Online marketplace Snapdeal is planning to raise up to USD 100 million from its old and new investors, including Japan’s SoftBank, as per the sources.

This will be the first time when Snapdeal will raise major fresh capital in over three years.

The Snapdeal is in discussion with other investors for funding valuation to be between USD 800 million to USD 1.2 billion, and the final number could increase, the sources added.

Snapdeal net value currently is about USD 140 million.

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In February 2016, Snapdeal had raised funding from investors which also included Ontario Teachers Pension Plan. This funding valued the company at about USD 6.5 billion.

“Snapdeal is not going to compete with Amazon and Flipkart on marketshare and type of products being sold. They are selling the Bharat story to investors,” sources said.