Zepto eyes $250 mn from HNIs, wealth companies

If the deal goes through, it will be the startup's third capital raise in six months

- Priyamvada C. & Sneha Shah

Quick commerce startup Zepto is looking to raise about $250 million from high-net-worth individuals and wealth management firms, including Motilal Oswal, IIFL and InCred, at a near-flat valuation of $5 billion, three people familiar with the matter told Mint.

"The wealth firms are expected to further downsell it to their HNI clients," one of the people cited above said. A second person said the round is expected to close later this month. Motilal Oswal is running the mandate for the transaction, the person added.

If the deal goes through, it will be the startup's third capital raise in six months.