Fidelity boosts Meesho valuation to $5 bn

This followed the Boston-headquartered firm marking up the valuation of its September 2021 investment in the social commerce platform to $43.24 million, according to Fidelity's filings with the Securities and Exchange Commission for the period ended 31 July.

- Aman Rawat

The increase in Meesho's valuation is a reversal for Fidelity which cut the Bengalurubased company's valuation to $37.84 million as of 31 March, the filings showed.

In September 2021, Fidelity had invested $42 million in Meesho in its Series F funding round in which the company had raised a total of $570 million at a valuation of $4.9 billion. Other marquee investors who took part in the round included B Capital Group, Prosus Ventures, SoftBank Vision Fund 2, Facebook, Footpath Ventures, Trifecta Capital and Good Capital.