Classified portal, Quikr has raised $150 million (more than Rs. 900 crores) in a financing round that included significant investment by its existing investors, including Tiger Global Management (“Tiger Global”) and Investment AB Kinnevik (“Kinnevik”), as well as Hong Kong based Steadview Capital.
This fresh round of funding will be used to further invest in Quikr’s mobile business and in key categories (Quikr is also launching a dedicated real estate portal).
Quikr had raised $60mn in 2014 and launched QuikrNxt, a messaging service 3 months back. Quikr claims to be clocking 30 million monthly consumers and small business users across 1000 cities
“We’ve undertaken this transaction to further consolidate our leadership in the Indian classifieds market. Our strategy of innovating for the local market has played out really well and we intend to continue to do that as we go forward.” said Pranay Chulet, Founder and CEO of Quikr. “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.”