Zepto set to raise $500 mn at 40% higher valuation

Quick commerce major Zepto is in advanced stages of raising $450-500 million in fresh primary capital from existing investors General Catalyst and Avenir Growth, according to sources familiar with the matter. The startup is expected to command a valuation of $6-7 billion in the fresh round, a 40% mark-up from its previous $5-billion valuation.

General Catalyst and Avenir Growth are expected to contribute the bulk of the fundraise, with other existing investors may participate on a pro-rata basis. The round is anticipated to close within a month, sources indicated.