Zepto to raise $650 million at $3.5 billion valuation, gears up for IPO

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Zepto was launched in July 2021.


New Delhi:

Quick commerce company Zepto has decided to raise $650 million in funding from existing and new investors.

The company has not made any statement regarding this yet. The company is raising funds for the second time in the last one year.

In August last year, Zepto raised $200 million from Stepstone Group, Goodwater Capital and other investors at a valuation of $1.4 billion. Stepstone Group led this round of funding. At the same time, US’s Goodwater Capital joined as a new investor.

Zepto is gearing up for an IPO soon

Zepto was launched in July 2021. The company plans to launch an IPO (Zepto IPO) soon. The quick commerce platform saw revenue growth of 1,339 percent year-on-year in FY2023. However, as the income increased, so did the losses.

Zepto’s revenue in FY 2023 will be Rs. 2,024 crore, which in FY 2022 will be Rs. 142 crores. However, the company’s loss during this period was Rs. 390 crore to Rs. 1,272 crores.

Zepto competes with Zomato’s Blinkit and Swiggy’s Instamart.

Zepto recently said that the company is planning an IPO in the next 2 to 3 years. The trend of fast-paced commerce is growing rapidly in the country. Zepto’s direct competition is Zomato’s Blinkit and Swiggy’s Instamart.



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