According to a report, the Bengaluru-based firm is looking to liver up to about USD 200 million - approximately Rs 1,496 crore - which could value the company at over USD 1 billion.

After the ban in the Chinese video sharing app TikTok, various Indian apps such as ShareChat are gaining popularity these days.  Hence, this discussion is coming to the light following a border clash between the two countries.

As per the sources, "A process is on to raise funds. We have reached out to funds as well as strategic investors like Google. The talks are still at a preliminary stage and will take some time to conclude. As Chinese tech applications are banned, we expect larger investor traction for ShareChat, which directly competes with ByteDance's Helo.” 

ShareChat Chief Executive Ankush Sachdeva had told the publication last week in an interview, "Given how things have changed, especially after the ban, ShareChat benefits a lot in terms of time spent, in terms of revenue, in terms of daily active users. We are suddenly a lot more valuable than our previously thought valuation. We have got a lot of inbound interest and we are talking to everyone, including all the global players."

Reuters had also reported that ShareChat is expected to be in an early-stage with US-based Sequoia Capital and also some other investors to raise about USD 200 million.  

Also, according to another report,ShareChat is also in negotiation with  the technology giant Microsoft from an investment of about USD 100 million. While, JPMorgan has been appointed by ShareChat to advise them on the new fundraising phase and is reported to be completed by the end of 2020.