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Last Updated : Oct 12, 2018 10:47 PM IST | Source: PTI

Zomato raises $210 mn from Alipay Singapore

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


Zomato is raising $210 million from Alibaba's payment affiliate Alipay Singapore, which is an existing shareholder in the online restaurant guide and food ordering firm.

According to a regulatory filing by BSE-listed Info Edge (India), Zomato has signed a definitive agreement to undertake a primary fundraise of approximately $210 million from Alipay Singapore Holding Pte Ltd and/or any of its affiliates.

Info Edge (India) held 30.91 percent of the share capital in Zomato Media Private Ltd.

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"...upon the closing of this fundraise, our shareholding in Zomato stands reduced to about 27.68 percent on fully converted and diluted basis," it added.

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

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First Published on Oct 12, 2018 10:34 pm
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