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Social media platform ShareChat has raised $16 Mn debt funding from new investor, Singapore-based EDBI, expanding the size of its previous debt round to $65 Mn

The Google-backed startup, which has been battling a funding crunch, raised the funds by issuing convertible debentures.

This is EDBI's second investment in an Indian startup. Earlier, it invested in home-decor startup Livspace.

As per the sources, ShareChat will utilise the fresh capital to expand its customer transaction businesses by investing in new monetisation features for the creator ecosystem.

ShareChat debt funding $16 Mn EDBI Convertible Debentures social media platform funding round Expansion Customer Transaction Businesses Monetisation Features Creator Ecosystem