Zomato raises USD 150 mn from existing investor Ant Financial

Online restaurant guide and food ordering platform Zomato on Friday said it has raised USD 150 million (over Rs 1,065 crore) from existing investor Ant Financial as part of a larger funding round.

According to a regulatory filing by Info Edge India, which is also an existing shareholder in Zomato, this transaction is at a pre-money valuation of USD 3 billion.

The investment is part of a larger funding round of up to USD 600 million, announced by Zomato Founder and CEO Deepinder Goyal in December.

"We have raised USD 150 million from Ant Financial as a part of a larger round. Ant Financial has been a steadfast partner in our journey towards achieving market leadership in on-demand food delivery in India, and dining out globally," a Zomato spokesperson said in a statement.

The filing by Info Edge India said Zomato Media has signed a definitive agreement to undertake a primary fund raising of up to USD 150 million from its existing shareholder, Antfin Singapore Holding Pte Ltd, and/or any of its affiliates.

"...upon closing as a consequence of this fund raise, our shareholding in Zomato shall stand reduced to about 25.13 per cent on fully converted & diluted basis. The transaction values Zomato at a pre-money valuation of USD 3 billion," it added.

In December last year, Goyal had told PTI that Zomato is looking to raise USD 500-600 million by January 2020 or so.