Inicio / BLOGS / INGLÉS / Crunchbase / Zomato, India’s Yelp, Raises $210M Courtesy Of China1 min read
Anagrama-Grouz-Startup-Growers-Default

Zomato, India’s Yelp, Raises $210M Courtesy Of China1 min read

What’s the next frontier for China’s corporate giants? Food delivery in India.

Zomato, which is like a combination of Yelp and Postmates, has accepted a $210 million investment from Alipay Singapore (Ant Financial’s Singapore branch). This investment comes just months after the Fintech giant invested $200 million in Zomato.

Follow Crunchbase News on Twitter

According to Zomato’s press release in March, the company planned to offer “more convenient and seamless payment options to its users in partnership with Ant and Ant’s strategic mobile wallet partners” in India, Australia, and the Middle East. Ant’s latest investment into Zomato likely reaffirms that commitment, but a significant partnership and a swath of money isn’t enough to call a win.

China-based Tencent is also reportedly in talks with Swiggy, Zomato’s primary competitor in India, about a deal that could funnel up to $700 million into the company. Swiggy has also previously received investments from Meituan-Dianping, the Tencent-backed food delivery (and everything else) company which went public in Hong Kong earlier this year.

The capital invested in India and Southeast Asia-based companies has fueled competition among companies in various verticals. However, the monetary affection Tencent and Ant Financial have in Zomato and Swiggy may be limited to ensuring that neither gives up status in the battle to own wallets.

The post Zomato, India’s Yelp, Raises $210M Courtesy Of China appeared first on Crunchbase News.

Source: Crunchbase

Compartir

Acerca de grouzmain

TE INTERESA

Anagrama-Grouz-Startup-Growers-Default

Apple’s holiday ad is an animated short film

Apple always has an interesting ad for the holiday season. This time, it’s a cute …

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *