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Zomato-backed unicorn Shiprocket dives into fintech arena

The Arc WebThe Arc Web ยท 1y ago
 Zomato-backed unicorn Shiprocket dives into fintech arena
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Shiprocket, a software platform catering to small online sellers, is expanding its services and discussing a new round of funding. These new services include international shipping and fintech-based solutions like faster checkout, working-capital loans, and insurance. Shiprocket, valued at $1.2 billion, is in talks with new investors, including sovereign funds, who could set the price for the round. Tribe Capital, the company's top backer, recently purchased $70 million worth of shares in a secondary deal, resulting in substantial unrealized returns. Shiprocket closed FY23 with operating revenues of $131 million and is actively backed by strategic investors like Zomato, PayPal, and Razorpay.

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