Zepto eyes $250 mn from HNIs, wealth cos at flat valuation
Mint Mumbai|November 13, 2024
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 said.
Priyamvada C. & Sneha Shah
Zepto eyes $250 mn from HNIs, wealth cos at flat valuation

"The wealth firms are expected to further downsell it (the investment) to their HNI clients," one of the people cited above said on the condition of anonymity. 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. Zepto, Motilal, IIFL and InCred did not immediately respond to Mint's request for comment.

The Mumbai-based startup, which is gearing up for a public market listing next year, entered the coveted unicorn club a year ago when it raised $200 million at a valuation of $1.4 billion.

In the run-up to a planned IPO, Zepto would be looking at balancing its cap table, one of the people cited above said. This is a common exercise at several young startups as early investors look to sell part stakes and return capital to their limited partners amid a broader liquidity crunch.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM MINT MUMBAIView all
Using AI In Workflow To Make Work Less Stressful
Mint Mumbai

Using AI In Workflow To Make Work Less Stressful

Al's role in workflow automation goes beyond efficiency-it also directly impacts employee well-being

time-read
3 mins  |
November 25, 2024
Employees' Provident Fund Has Issues. Can Employees Opt Out?
Mint Mumbai

Employees' Provident Fund Has Issues. Can Employees Opt Out?

EPF contributors face mounting challenges as limited withdrawal options and high rejection rates persist

time-read
3 mins  |
November 25, 2024
Mint Mumbai

The Promise And Challenges Of Insurance Reform

One of the most awaited results of the hike in foreign holding is the infusion of capital

time-read
2 mins  |
November 25, 2024
Becoming better at work with daily reflection
Mint Mumbai

Becoming better at work with daily reflection

Fujifilm India's Arun Babu on the significance of constant learning

time-read
1 min  |
November 25, 2024
A new incentive structure could help preserve standing forests
Mint Mumbai

A new incentive structure could help preserve standing forests

The proposed tropical forest forever facility would use blended finance to reward countries for protecting their green cover

time-read
3 mins  |
November 25, 2024
Let someone else play knight in shining armour for Disney
Mint Mumbai

Let someone else play knight in shining armour for Disney

CEO Iger should quit can-kicking and help the next chief succeed

time-read
3 mins  |
November 25, 2024
Mint Mumbai

Thomas E. Kurtz gave us our Basic lessons in software

He wanted computers kept accessible, as seen in the programming language he pioneered

time-read
3 mins  |
November 25, 2024
Mint Mumbai

Why the 5-star hotel experience needs urgent reforms

From gagging TV sets to guiding guests on surviving tucked-in beds, plenty needs to be fixed

time-read
4 mins  |
November 25, 2024
COP-29 could not escape the US election's impact
Mint Mumbai

COP-29 could not escape the US election's impact

The $300 billion pledged by rich countries as climate funding is grossly insufficient. True, Trump's US may revert to climate scepticism, but others must try harder to mobilize funds

time-read
2 mins  |
November 25, 2024
Empower women to participate equally in Digital India's success
Mint Mumbai

Empower women to participate equally in Digital India's success

We must go beyond bridging gaps in internet access and maximize women's agency in using devices

time-read
3 mins  |
November 25, 2024