Tencent-backed grocery startup Missfresh nears $500m fundraising deal

Tencent-backed grocery startup Missfresh nears $500m fundraising deal

Changhua Road, Putuo, Shanghai, China. Photo: Max van den Oetelaar/unsplash

Tencent Holdings Ltd.-backed Missfresh is on the verge of closing $500 million of new financing to quicken expansion after the Covid-19 outbreak bolstered demand for fresh groceries, people familiar with the matter said.