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RedMart raising US$100m investment

RedMart raising US$100m investment


Singapore-based online grocery company RedMart is reported to be in the advanced stage of discussions related to closing a $100m Series C investment which will fund its pan-Asian expansion.

Reporting the development, TechCrunch cited two sources with knowledge of the deal who confirmed with the publication that the latest transaction was expected to be closed within Q1 2016. To date, RedMart has not issued any public comments on this development.

So far, RedMart has raised US$55.1m from 19 investors. According to Crunchbase, as of 31 January 2016; investors include gaming unicorn Garena, SoftBank Ventures Korea, Visionnaire Ventures, and Facebook co-founder Eduardo Saverin. August 2015 saw it raise a US$26.7m bridging round from existing investors.