ShareChat, a vernacular social media platform, based out of Bengaluru, has raised $100 million (approx ₹713 million) in its latest series D round of funding. While, Twitter, TrustBridge Partners, Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient and Morningside Venture Capital also participated in the latest funding round.
The company said that ShareChat has secures total of $224 million. It also said to be in early talks with Tencent Holdings Ltd and other investors to raise as much as $200 million.
Accessible in 14 regional languages, ShareChat’s strength has been its popularity in Tier 2 and Tier 3 cities.
ShareChat has started offering multiple options to earn through referrals. For starters, users can share links to their friends and earn INR 50 as well as a scratch card after three successful referrals.
Twitter India MD Manish Maheshwari
said, “Twitter and ShareChat are aligned on the broader purpose of serving the public conversation, helping the world learn faster and solve common challenges. This investment will help ShareChat grow and provide the company’s management team access to Twitter’s executives as thought partners.”