The new Indian startup Meesho, which was based in Bangalore, attracted additional funding of $125 million. The creators of the company want to change the way they shop online globally, and these funds will help them expand their business in their home country.
Meesho is an online marketplace that serves as a link between sellers and buyers on social networks such as WhatsApp, Facebook, and Instagram. The creators of the startup claim that more than 2 million users from 700 cities are registered on their network. The main products that can be found in Meesho are clothing, household appliances, and electronics. The buyers of this application are mainly housewives, 80% of Meesho users are women.
Startup representatives said the company will use the new capital to expand its business in the country and add 18 million new sellers by the end of next year.
“The latest investment will also strengthen Meesho’s aim to grow its community of women entrepreneurs who have dreamt of running their own businesses but lacked the funds and expertise to do so,” the company said.
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