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Deepti Sri · · 1 min readSources: Tiger Global to lead $100m round in Indian social commerce app
“The Tiger Global juggernaut keeps rolling, and it’s raining money for India’s startups. The formidable hedge fund has become the chief unicorn maker in India, with four in 2021, and is in talks with several growth-stage startups for potential investments,” reported Entrackr, citing people with knowledge of the matter.
Details:
- Tiger Global is in talks with Indian social commerce app DealShare to lead its financing round in the range of US$70 million to US$100 million.
- The fresh fundraising may lift DealShare’s valuation to over US$400 million.
Context:
- In December 2020, the social commerce startup raised US$21 million in its series C funding round led by WestBridge Capital, taking it to an annual gross merchandise value of 25 billion rupees (US$339.8 million).
- DealShare started out in 2018 as an ecommerce platform on WhatsApp and eventually launched its own app and website. It aims to expand into 100 cities and towns across five states in India, as well as increase its customer base to 10 million by 2021.
Currency converted from Indian rupees to US dollar: US$1 = 75.07 rupees.
Editing by Collin Furtado and Jaclyn Tiu
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