Online and Mobile Classifieds player Quikr Raised 90 Million $
Mumbai Based Online and Mobile classifieds player Quikr has raised $ 90 Million from Clutch of marquee investors led by Swedish Private equity fund, Kinnevik
The other big investors which have pumped in funds in Quikr are PE major Warburg Pincus, Norwest Venture Partners, Ebay and Nokia Growth Partners.
The 5 year old company Quikr is founded by Pranay Chulet, an IIT-Delhi and IIM Calcutta alumnus has to date raised $150 million in funds, and competes with the likes of OLX, which is backed by the South African internet and media giant Naspers.
Quikr which provides a platform to consumers to help them buy, sell, rent various products and services has other investors including Matrix Partners India and Omidyar Network. Quikr was formerly known as Kijiji.in an Ebay-owned platform.
Quikr boasts of 30 million unique monthly users across 1,000 cities and towns with as many as 12 million listings through its mobile and online platforms and is being valued at about $250 million. Quikr registers listings for categories like jobs, automobiles, used goods, services and electronics.
However, Quikr will be the Stockholm-based fund’s first direct investment in India. The development signals the robust growth in India’s consumer internet businesses which have seen a steady flow of investor funds on the back of a fast growing internet Population.