Tuesday, April 20, 2021
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Swiggy Lands $800 Million

In today’s top payments news around the world, Swiggy raised $800 million in a funding round, while Meesho landed $300 million in new funding. Plus, CRED revealed a new funding round that sets a $2.2 billion valuation for the firm.

India’s Swiggy Raises $800 Million At $5 Billion Valuation

Swiggy, a food delivery startup, landed $800 million in a funding round headed up by Goldman Sachs and Falcon Edge Capital, with participation from Naspers and Accel. The Bangalore-based upstart is competing in the expanding delivery space in India against many firms, such as Zomato. The investment brings Swiggy’s valuation to nearly $5 billion.

Social Commerce App Meesho Raises $300 Million, Valued At $2.1 Billion

Indian social commerce upstart Meesho has notched $300 million in new funding, bringing its value to $2.1 billion. The new round of funding, headed up by SoftBank Vision Fund 2, has reportedly almost tripled Meesho’s valuation in contrast to its 2019 round of fundraising. Meesho is said to be the fourth Indian upstart to attain unicorn status — or, in other words, a valuation of at least $1 billion.

India’s CRED Announces $215 Million Fundraise At $2.2 Billion Valuation

Indian FinTech firm CRED unveiled a new funding round that sets a $2.2 billion valuation for the firm. Falcon Edge Capital headed up the newly announced $215 million Series D round, which included current investors. On its website, CRED said it counts 5.9 million users, all of whom were only able to join if their Experian credit scores were at least 750.

Carrefour, Deliveroo Bring 30-Minute Grocery Delivery To France

Carrefour and Deliveroo have grown their collaboration to provide on-demand supermarket delivery in France. The service, which promotes half-hour delivery, will roll out at first this week in Paris and will grow to 10 other major French cities in the months to come. As it stands, Carrefour and Deliveroo provide supermarket delivery in Belgium. Deliveroo went public on the London Stock Exchange last month.

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About The Study: The PYMNTS Product Drops Study investigates how consumers are participating in events such as product drops, flash sales and private sales. The report draws from a census-balanced survey of 2,298 United States consumers and examines how merchants can use exclusive sales events to boost conversion and create engaging customer experiences.

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