Meesho, a thriving e-commerce unicorn with substantial investments from industry giants such as SoftBank, Peak XV, Fidelity Investments, Prosus & Naspers, and Meta, is set to embark on a new chapter of expansion and diversification.
In a strategic move, Meesho is contemplating the creation of a comprehensive financial services platform while also nurturing plans for the significant growth of its grocery delivery business during the upcoming fiscal year. This strategic pivot aligns with the evolving demands and preferences of Meesho's customer base and reflects the company's commitment to innovation and adaptation.
This development unfolds shortly after reports emerged that angel investors and early institutional shareholders of Meesho have been engaging in discussions with potential investors regarding the divestment of their stakes. Among the investment firms in talks with the e-commerce startup's early investors are WestBridge Capital and Norwest Venture Partners.
Meesho's strategic foray into the financial services sector is expected to cater to a wide range of financial needs and preferences of its customer base, further enhancing its value proposition. Simultaneously, the expansion of its grocery delivery business reflects Meesho's intention to diversify its offerings and strengthen its position as a versatile and customer-centric platform.
As Meesho charts its course for the future, its marquee investors, including SoftBank, Peak XV, Fidelity Investments, Prosus & Naspers, and Meta, continue to support and contribute to the company's growth journey. Stay tuned for the exciting developments as Meesho explores new horizons in the dynamic e-commerce landscape.