comscore Zomato raises $210 million from Alipay Singapore
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Zomato raises $210 million from Alipay Singapore

Earlier this year, Ant Small and Micro Financial Services Group (Ant) had invested about $200 million in Zomato.

  • Published: October 13, 2018 12:33 PM IST
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Zomato is raising USD 210 million from Alibaba’s payment affiliate Alipay Singapore, which is an existing shareholder in the online restaurant guide and food ordering firm. Also Read - Independence Day 2022: 5G phone shipment will continue to gain momentum across price tiers

According to a regulatory filing by BSE-listed Info Edge (India) Friday, Zomato has signed a definitive agreement to undertake a primary fund raise of approximately USD 210 million from Alipay Singapore Holding Pte Ltd and/or any of its affiliates. Also Read - Pokemon GO August Community Day meetups to happen in these Indian cities

Info Edge (India) held 30.91 per cent of the share capital in Zomato Media Private Ltd. Also Read - India may block sale of Chinese phones priced below Rs 12,000

“…upon the closing of this fund raise, our shareholding in Zomato stands reduced to about 27.68 per cent on fully converted and diluted basis,” it added.

A Zomato spokesperson confirmed the development but declined to make additional comments.

In February this year, Ant Small and Micro Financial Services Group (Ant) had invested about USD 200 million in Zomato, which competes with players like Swiggy, FoodPanda and UberEATS.

This is published unedited from the PTI feed.

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  • Published Date: October 13, 2018 12:33 PM IST



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