India classifieds site Quikr raises $150m
Indian classifieds site Quikr has raised a $150 million in a round of funding led by existing investor Tiger Global Management.
The round also includes previous backer AB Kinnevik - which contributed $40 million - and new Hong Kong-based investor Steadview Capital. Tiger Global also led a $60 million round for the start-up in September. Six months prior to that Quikr received $90 million from AB Kinnevik.
The business has now raised approximately $350 million across seven rounds since being established in 2008. Other investors include Matrix Partners, Omidyar Network, eBay, Norwest Venture Partners, and Nokia Growth Partners.
Quikr allows users to sell or buy products and services across 10 categories such as electronics and household goods, automotives, employment and other services. It currently claims to have over 30 million unique users a month, with a presence in 1,000 cities across India.
The business also has a real estate-focused site - quikrhomes.com - where users can search proporties available for sale or rent. In a statement, Quikr said it would use the fresh round of funding to invest in its mobile business.
"Quikr has built its market-leading position by steadily innovating new features, such as messaging, which are rooted in its deep understanding of India as a market and mobile as a medium," said Lee Fixel, a partner with Tiger Global in a statement. "We are excited to be a part of this growth story, which offers millions of Indians an easy way to transact with one another across a large number of categories."
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.