Zomato to Raise $210 Million from Alibaba’s Online Payment Firm
The food delivery and restaurant discovery major Zomato has reportedly entered into a deal to raise funds amounting to $210 million (roughly Rs. 886 crores) from Alibaba's online payment platform Alipay Singapore.
This funding news has come a few weeks after the food-ordering platform announced the acquisition of TongueStun, a Bengaluru-based startup that serves corporate catering space in six Indian cities.
"[W]e would like to bring to your knowledge that Zomato has signed a definitive agreement to undertake a primary fund raise of approximately $210 million from Alipay Singapore Holding Pte Ltd (which is an existing shareholder of Zomato) and/ or any of its affiliates, and upon the closing of this fund raise," the regulatory filing mentioned.
Prior to this, the company secured $150 ...