Quick-commerce giant Zepto is allegedly looking for to raise USD 300 million from high-net-worth individuals (HNIs) and wealth management firms, esteeming the company at USD 5 billion pre-investment, concurring to media reports. This new target pairs its beginning raising money objective, as per media reports. Motilal Oswal’s private wealth arm is said to be overseeing the raising money mandate. 

According to media reports, Motilal Oswal Resource Administration Company committed USD 40 million to this circular final month but has since expanded its commitment to USD 60 million. Sources cited by media reports expressed that the circular was oversubscribed, prompting Zepto to raise the add up to advertising. 

The new subsidizing comes at a time when Zepto is supposedly pointing to capitalize on India’s bullish stock showcase whereas rebalancing its cap table, as per media reports. The company has raised about USD 1 billion in later months in the midst of furious competition in the quick-commerce segment, concurring to media reports. 

Zepto secured USD 665 million in June at a valuation of USD 3.6 billion, taken after by an extra USD 340 million in Eminent, which boosted its valuation to USD 5 billion, as per media reports. Of the USD 1.6 billion raised by the four-year-old company so distant, over USD 1 billion was allegedly raised in fair the past five months. 

The company supposedly plans to utilize the reserves to grow it arrange of dull stores from the current 370 to 700 by Walk 2025, centering on the beat 20 cities, concurring to media reports. The company had prior declared that it outperformed USD 1 billion in annualized gross merchandise value (GMV) in June.

source: bwdisrupt.