Quikr, India’s leading online classified portal, has raised a whopping $60 Mn in a fresh round led by Venture Capital Firm – Tiger Global Management. As per reports, Quikr is now valued at over $400 Mn.
Its existing investors Kinnevik, Matrix Partners India, Nokia Growth partners, Norwest Venture Partners, Omidyr Network, Warburg Pincus and eBay Inc. also participated in this round.
This is second time when Quikr has raised funding this year, previously it had raised $ 90 Mn in a funding round led by Swedish investment firm Kinnevik in March this year.
Quikr plans to use the latest fund raise to invest in product development and to expand its mobile business.
“The explosive growth in mobile internet is fundamentally reshaping the Indian classified internet market, and we are well positioned to be at the forefront of this growth,” said Pranay Chulet, founder and CEO of Quikr.
Quikr has more than 30 Mn monthly consumer and small business consumers and users across 940 cities.
“Quikr has grown rapidly to become one of India’s major classifieds players with a deep understanding of the local market,” said Lee Fixel, partner at Tiger Global.
Quikr competes with others classifieds players such as Olx and was founded by IIM- Calcutta alumnus Pranay Chulet and Jiby Thomas who were colleagues at eBay.
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