Zomato closes a round of $ 660 million on a valuation of $ 3.9 billion

Zomato has closed a $ 660 million primary financing round with a post-money value of $ 3.9 billion, foodtech unicorn co-founder and Deepinder Goyal said in a tweet Friday.

According to Goyal, 10 new investors are joining the round, including Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae Asset and Steadview Capital.

This is a significant increase in the company’s valuation of $ 3.18 billion in August when Temasek raised nearly $ 61 million in preferred equity through MacRitchie Investments in the Gurugram-based company.

This could also be the last fundraiser for Zomato before its public listing. Three months ago, the company claimed it was preparing to go public in 2021. However, the company did not reveal whether it will go public in India or the US.

In addition to the primary funding, Zomato is currently finalizing a $ 140 million secondary transaction. As part of this transaction, Zomato has already provided its former employees with liquidity of USD 30 million. Previously, Goyal had said the company had facilitated the sale of $ 30 million worth of ESOPs for former employees at a 4x bonus.

In October, Entrackr reported exclusively that Zomato will see a secondary transaction The company’s co-founder and former Pankaj Chaddah as well as up to two dozen existing and former employees are said to be selling their shares.

In one Series of tweetsGoyal also announced the current month’s growth figures. “Food delivery in India is quickly emerging from the shadows of COVID-19. December 2020 is expected to be the highest GMV month in our history. We are now measuring ~ 25% more GMV than our previous highs in February 2020, ”he said added.

Zomato had already announced that it had peaked in October and before Covid delivered 92 million orders since the first lockdown in March. The company went on to claim that the number of delivery orders had increased to 130 million by November 18 and to 150 million from March 23 to December 18.

While Zomato’s IPO plan could become a reality in 2021, the company’s annual financial report for Fiscal Year 20 shows that it will take a turnaround to recover from huge losses. According to Zomato’s unaudited financial data for the most recent fiscal year, the company had EBITDA of $ 394 million in revenue Loss at $ 293 million.