NEW DELHI — India's largest online classifieds portal Quikr today said it has raised $150 million (about Rs 900 crore) from investors to consolidate its leadership position, and invest in mobile and other key categories.
The financing round included significant investment by its existing investors Tiger Global Management and Investment AB Kinnevik, and first time investor Steadview Capital, a Hong Kong-based firm, it added.
"This fresh round of funding will be used to further invest in Quikr's fast growing mobile business and in key categories where the company already has leadership positions, including goods, cars, real estate, jobs and services," the firm said. "The strategy of innovating for the local market has played out really well," said founder-CEO Pranay Chulet.
"The big things for us going forward are to continue to innovate for India, innovate for mobile and go deeper in key categories where we already are leaders," he added. Quikr has more than 30 million monthly consumers and small business users across 1000 cities. The firm had last year raised USD 60 million funding for business expansion.
The financing round included significant investment by its existing investors Tiger Global Management and Investment AB Kinnevik, and first time investor Steadview Capital, a Hong Kong-based firm, it added.
"This fresh round of funding will be used to further invest in Quikr's fast growing mobile business and in key categories where the company already has leadership positions, including goods, cars, real estate, jobs and services," the firm said. "The strategy of innovating for the local market has played out really well," said founder-CEO Pranay Chulet.
"The big things for us going forward are to continue to innovate for India, innovate for mobile and go deeper in key categories where we already are leaders," he added. Quikr has more than 30 million monthly consumers and small business users across 1000 cities. The firm had last year raised USD 60 million funding for business expansion.
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