Quikr, the internet and mobile based classifieds company has attracted an investment of US$32 million led by Warburg Pincus, a global private equity firm focused on growth investing. Existing investors Matrix Partners India, Norwest Venture Partners and eBay Inc. also participated in this round of fund raising, which is the fifth and the largest round of capital raised (as claimed).
Quikr boasts of 17 million unique individuals and small businesses using it across 83 cities every month. These 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. Existing investors include Nokia Growth Partners and Omidyar Network, apart from those mentioned above.
“In the initial rounds of fund raising, we have already attracted some of the best investors across the globe. We are delighted to have a strategic partner like Warburg Pincus as we continue our journey forward. The current round, which is our largest to date, will enable us to diversify our offerings across both online and mobile platforms, intensify our product development efforts and further strengthen our marketing capabilities.” [Pranay Chulet, Co-Founder and CEO, Quikr]
An interesting read: Watch out Craigslist, OLX, 99acres, Burrp – here comes Facebook (Groups)!