Ant Financial has invested another $210 million in restaurant discovery and food-delivery platform Zomato.
Ant Financial, the Alibaba-owned payment affiliate, has invested another $210 million in restaurant discovery and food-delivery platform Zomato.
As a result of the infusion from Alipay Singapore Holding Pte Ltd or other affiliates of Ant Financial, Info Edge's (India) ownership in Zomato will fall from 30.91% to 27.68%.
Info Edge said, "We would like to bring to your knowledge that Zomato has signed a definitive agreement to undertake a primary fund raise of approximately USD 210 million from Alipay Singapore."
The development comes after Zomato had raised $200 million in a funding round led by Ant Financial in February. Under this deal, Alipay had pumped in $150 million as primary capital in Zomato.