Friday, June 21

Zomato Raises USD 150 mn from Existing Investor Ant Financial

New Delhi, Jan 10, 2019: India based Online restaurant guide and food ordering platform Zomato has raised USD 150 million (over Rs 1,065 crore) from existing investor Ant Financial as part of a larger funding round.

According to a regulatory filing by Info Edge India, which is also an existing shareholder in Zomato, this transaction is at a pre-money valuation of USD 3 billion.

The investment is part of a larger funding round of up to USD 600 million, announced by Zomato Founder and CEO Deepinder Goyal in December.

“We have raised USD 150 million from Ant Financial as a part of a larger round. Ant Financial has been a steadfast partner in our journey towards achieving market leadership in on-demand food delivery in India, and dining out globally,” a Zomato spokesperson said in a statement.

The filing by Info Edge India said Zomato Media has signed a definitive agreement to undertake a primary fund raising of up to USD 150 million from its existing shareholder, Antfin Singapore Holding Pte Ltd, and/or any of its affiliates.

“…upon closing as a consequence of this fund raise, our shareholding in Zomato shall stand reduced to about 25.13 per cent on fully converted & diluted basis. The transaction values Zomato at a pre-money valuation of USD 3 billion,” it added.

In December last year, Goyal said that Zomato is looking to raise USD 500-600 million by January 2020 or so. 

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