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Tencent-backed grocery start-up Missfresh closes in on US$500 million fundraising as Covid-19 boosts demand

Tencent Holdings-backed Missfresh is on the verge of closing US$500 million of new financing to quicken expansion after the Covid-19 outbreak bolstered demand for fresh groceries, people familiar with the matter said.Beijing Missfresh E-commerce Co, which counts Goldman Sachs and Tiger Global Management among its backers, recently wrapped up the second tranche of a funding round that will raise a total of about US$300 million and another 1 billion to 1.5 billion yuan (US$211 million) of Chinese