Zepto adds $340 million to basket; valuation at $5 billion ahead of IPO

Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO).

This is Zepto’s third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.

According to people in the know, Zepto was planning to raise $400 million but restricted it to $340 million so that equity dilution for existing investors was not disturbed.