Online Classifieds leader, Quikr, raises $90 million from current investors as well as Sweden-based Kinnevik
13th March 2014
Mumbai, March 13 2014: Leading Indian horizontal classifieds platform, Quikr, with more than 30 million unique visitors and 100 million visits per month has received almost 40 million dollars of investment from Swedish investment company A B Kinnevik.
Kinnevik invested $ 39.3 million in the context of a total raise of $ 90 million that included participation from Quikr's principal current investors who include Matrix Partners, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus and eBay Inc.
Says Pranay Chulet, Founder and CEO of Quikr: “We are excited to welcome Kinnevik to Quikr. They bring a great understanding of the classifieds model as an investor and their experience in other markets will be very valuable to us as we continue to build our business.”
Adds Mia Brunell Livfors, President and CEO of Kinnevik: “Quikr has grown rapidly based on a deep understanding of the Indian market. It’s targeting a tremendous opportunity in a large growth market and we look forward to being a part of its exciting journey forward.”
Individuals and businesses access Quikr to sell, buy, rent or find products and services in a variety of categories such as electronics, cars, bikes, real estate, services, jobs, education and entertainment.