Online classifieds business, Quikr has secured $60 million investment from investor Tiger Global Management, a global investment firm, along with its current investors. Quikr’s current investors include Kinnevik, Matrix Partners India, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus and eBay Inc. The new funding will be used by the company to invest in product development as well as further expansion of its mobile business.
Pranay Chulet, Founder and CEO of Quikr said that mobile internet is reshaping the Indian classified market and that Quikr is well positioned to be at the forefront. He also added that the funding round is a powerful validation of Quikr’s local knowledge and connections, skilled execution and quality management team.
Quikr is a cross-category online classifieds business with more than 30 million monthly consumer and small businesses users in 940 cities. Users can sell, buy, rent or find products and services on Quikr in a variety of categories such as electronics and household goods, real estate, cars, bikes and employment and other services.
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