Social commerce startup Meesho raised $192 million from its parent entity, Meesho Inc amid the festive season sale.
Meesho is a small and medium-sized business online reseller network (SMBs). Meesho’s marketplace, which began with the goal of challenging Amazon India and Flipkart’s duopoly in India, now provides small businesses with access to millions of customers. The infusion of funds occurred ahead of the start of the holiday season sale, which is critical in driving yearly sales for all ecommerce companies. Meesho, Amazon, and Flipkart began their festive sales last week. In a separate statement on Thursday, Meesho said that its flagship ‘Mega Blockbuster Sale’ clocked about 3.34 Cr orders, with nearly 60% growth in transacting users year on year (YoY).