Zomato raises $150mn from Ant Financial at $3bn valuation (Lead)

New Delhi, Jan 10 (IANS) Valued at $3 billion, leading food delivery platform Zomato on Friday announced it has secured $150 million in fresh funding from Ant Financial, a subsidiary of China-based giant Alibaba.With this, CEO Deepinder Goyal-led company has received $840 million funding to date.The latest round of funding in Zomato is part of $600 million funding round announced by Goyal at a Delhi event in December."This is to inform you that Zomato Media Private Ltd. ('Zomato') has signed a definitive agreement to undertake a primary fund raise of up to USD 150 million from Antfin Singapore Holding Pte. Ltd. ('Antfin') (which is an existing shareholder of Zomato) and/or any of its affiliates," the company said in a BSE filing."The transaction values Zomato at a pre-money valuation of $3 billion," the company added.In 2018, Ant Financial invested $210 million in Zomato for 14.7 per cent stake and later raised the stake to 23 per cent.Other Zomato investors include Info Edge India, Vy Capital, Sequoia Capital and Singapore-based Temasek.The latest funding comes at a time when Zomato is reportedly aiming to buy UberEats' India business for around $400 million.There are merger reports of Bengaluru-based Swiggy and Gurugram-based Zomato but the later has refuted such reports time and again.Zomato is currently delivering over 1.3 million orders a day from 150,000 restaurants across India at more than 10 orders per restaurant per day.
--IANS na/