JSA advised B Capital in respect of its primary investment in Meesho Inc. (Meesho), a company engaged in the business of operating the website www.meesho.com and the associated mobile application in India, which facilitates sale and purchase of goods between the suppliers and the resellers or buyers, through its subsidiaries Fashnear Technologies Private Limited, Meesho Payments Private Limited and Popshop Commerce Private Limited.
The investment also saw participation from other marquee investors. The total amount raised by the Company in the primary round was approximately US$ 570 million. Meesho has more than doubled its valuation in less than six months. About 80% of resellers on the platform are women and Meesho aims to help women start their business without need for any capital. Meesho intends to use the capital to double down on its research and development (R&D) teams and acquire more users. It aims to reach 100 million monthly transacting users by December 2022.The fund raise was part of strategic transaction for expansion of the company and benefits of its employees.
The fund raise doubled Meesho’s valuation to USD 4.9 billion.
The Deal value was USD 570 Million.
JSA team comprised Lead Partner – Manvinder Singh, Senior Associate – Anant Mishra, Associate – Vishakha Singh.
Manvinder has a practice of more than 20 years and specializes in acquisitions, private equity investment and business restructuring. Manvinder regularly advises leading global private equity funds in structuring and concluding their investments in Indian companies.