1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. Prosus N.V.
  6. News
  7. Summary
    PRX   NL0013654783

PROSUS N.V.

(PRX)
  Report
Real-time Euronext Amsterdam  -  05/20 03:07:08 am EDT
46.26 EUR   +1.66%
03:05aPROSUS N : to sell its shareholding in Avito
PU
02:39aPROSUS : JP Morgan keeps its Buy rating
MD
05/17PROSUS : Jefferies reiterates its Neutral rating
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Prosus N : Swiggy Raises $700 million Led by Invesco

01/24/2022 | 04:04am EDT
Swiggy Raises $700 million Led by Invesco

Six months after raising $1.25 billion, the new fundraise also sees increased participation of institutional investors both in India and globally

January 24, 2022: Swiggy, India's leading on-demand convenience platform, today announced that it has raised $700 million in new funding led by Invesco. The round also saw participation from a host of new investors such as Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital. Swiggy's existing investors Alpha Wave Global (formerly Falcon Edge Capital), Qatar Investment Authority, and ARK Impact, along with its long-term investor Prosus also participated in the round. This investment comes at a time when the adoption of food and online grocery is accelerating and the consumer demand for Swiggy's many services continues to grow.

While the food delivery business has nearly doubled in gross order value (GOV) in the last year, this fundraise will enable Swiggy to further accelerate growth on the core platform, and make meaningful investments to grow Instamart. Instamartremains well-positioned to continue to lead the emerging quick commerce grocery space and is set to reach an annualised GMV run rate of USD 1 billion in the next three quarters. The company will also further strengthen its investments in the broader ecosystem.

"The GMV our food delivery business achieved in 40 months, took Instamart just 17 months, demonstrating the platform benefits of Swiggy. We will double down on this to build more categories in line with our mission of offering unparalleled convenience to Indian consumers," said Sriharsha Majety, CEO, Swiggy.

"Our goal is to make Swiggy the platform that 100 million consumers can use 15 times a month. We will continue to invest in our people, products, and partners to create a positive impact on the ecosystem, and accelerate the digital transformation in food and grocery delivery and other on-demand services," he added.

"As long-term investors, the Invesco Developing Markets fund seeks investment opportunities in the best companies in the world, led by world-class management teams, and that have the potential for long-term structural growth," said Justin Leverenz, Chief Investment Officer, Invesco Developing Markets Fund. "Our investment in Swiggy represents such an investment."

In the last few months, Swiggy has expanded Instamart, its quick commerce grocery service to 19 cities, while consistently working towards optimising its selection and delivery time. Swiggy Genie, Swiggy's pick up and drop service is currently present in 68 cities, while its meat delivery service, and daily grocery service, Supr Daily are present across all major Indian cities. It also launched Swiggy One, India's first comprehensive membership program with benefits across food, groceries, and other on-demand services by Swiggy. With multiple growth catalysts in place to drive its continued expansion, Swiggy is well-positioned for 2022 and beyond.

About Swiggy

Founded in 2014, Swiggy is India's leading on-demand convenience platform with a vision to elevate the quality of life for the urban consumer by offering unparalleled convenience. It connects consumers to over 1,85,000 restaurant partners and stores in over 500 cities. Its express delivery service Instamart is present in 19 cities. Using innovative technology, Swiggy provides a hassle-free, fast, and reliable delivery experience. Every order delivered by Swiggy's delivery executives, ensures a host of customer-centric features like lightning-fast delivery, no minimum order value, live order tracking, and 24/7 customer support.

About Invesco Developing Market Strategy and Our Commitment to India

As of December 31st, 2021, the Invesco Developing Markets strategy held investments totaling USD 8.8 billion (INR 56,200 crores approximately) in India - representing about 17.4% of our total assets under management worldwide. This exposure represents a significant over-weight in favor of India within our global allocation and signifies our continued conviction in the strength and vitality of India's economic future. Further, these investments are almost all long dated and reflect our 15+ year history of investing in India.

Media contacts:

Sanjana Shetty

[email protected]

Brian Ammanna

[email protected]

Disclaimer

Prosus NV published this content on 24 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2022 09:03:05 UTC.


© Publicnow 2022
All news about PROSUS N.V.
03:05aPROSUS N : to sell its shareholding in Avito
PU
02:39aPROSUS : JP Morgan keeps its Buy rating
MD
05/17PROSUS : Jefferies reiterates its Neutral rating
MD
05/17PROSUS : JP Morgan raises its recommendation to Buy
MD
05/09PROSUS : Jefferies remains Neutral
MD
05/04Just Eat Takeaway faces shareholder backlash over dealmaking
RE
04/29Miners, earnings lift European stocks at end of choppy April
RE
04/28PROSUS : UBS reiterates its Buy rating
MD
04/26PROSUS N : Social music creation platform BandLab raises US$65m Series B funding, with Pro..
PU
04/26TRANSCRIPT : Prosus N.V. - Special Call
CI
More news
Analyst Recommendations on PROSUS N.V.
More recommendations
Financials (USD)
Sales 2022 7 313 M - -
Net income 2022 16 327 M - -
Net Debt 2022 6 827 M - -
P/E ratio 2022 4,49x
Yield 2022 0,24%
Capitalization 123 B 123 B -
EV / Sales 2022 17,7x
EV / Sales 2023 14,0x
Nbr of Employees 23 939
Free-Float 63,9%
Chart PROSUS N.V.
Duration : Period :
Prosus N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PROSUS N.V.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Last Close Price 45,50 €
Average target price 93,13 €
Spread / Average Target 105%
EPS Revisions
Managers and Directors
Robert van Dijk Chief Executive Officer & Executive Director
Vasileios Sgourdos CFO, Financial Director & Executive Director
Jacobus Petrus Bekker Non-Independent Non-Executive Chairman
Patrick Luke Kolek Chief Financial Officer
David Tudor Group General Counsel & Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
PROSUS N.V.-38.12%122 781
TENCENT HOLDINGS LIMITED-19.97%443 931
NETFLIX, INC.-69.54%78 721
AIRBNB, INC.-31.43%68 757
UBER TECHNOLOGIES, INC.-44.57%44 104
NASPERS LIMITED-35.89%38 671