Wednesday, November 13, 2024
spot_img

Zepto Nears $100 Million Funding Round Led by Motilal Oswal and Domestic Investors

Must Read

Quick commerce platform Zepto is reportedly close to securing $100 million from Motilal Oswal, along with high-net-worth individuals (HNIs) and family offices, as part of its efforts to onboard more domestic investors. The company has been working on this round for several months, raising funds at the same valuation as previous rounds announced earlier this year.

In August 2024, Zepto raised $340 million at a $5 billion valuation, following a $665 million raise at a $3.6 billion valuation in June. The online retail platform has raised over $1 billion in 2024, with plans to expand into Tier 2 and Tier 3 markets while solidifying its presence in metros and Tier 1 cities.

Zepto’s CEO and co-founder, Aadit Palicha, highlighted the company’s disciplined growth strategy, stating in June, “We plan to continue operating with fiscal discipline as we scale from 350 stores to 700 stores by reinvesting the capital generated from mature stores back into the business. If we are able to achieve this while continuing to delight customers, I believe we will be ready to go public relatively soon.”

In addition to its store expansion, Zepto is reportedly preparing to launch Zepto Postpaid, a buy now, pay later (BNPL) service for larger orders. The company claims its Gross Merchandise Value (GMV) for FY24 exceeded $1 billion, with around 75% of its stores achieving full EBITDA positivity by May 2024. Zepto is also eyeing an IPO in the coming years and plans to relocate its operations to India.

Latest News

Organic Tattva’s Sub Category Natural Tattva Adds New Products to the Portfolio

Organic Tattva announced the addition of two new products to its portfolio under the Natural Tattva subcategory: A2 Ghee...
spot_img