Quikr raises $6 Million funding from Norwest Venture Partners
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Mumbai: Quikr Mauritious (a holding company of Quikr India), free online classifieds portal has raised $6 million from the new investor Norwest Venture Partners (NVP), and returning investors, Omidyar Network, Matrix Partners India and eBay Inc in the series C, third round of funding. With this round of financing, Quikr has raised in excess of Rs 500 million in total investment since inception. Quikr offers a web-based classifieds platform that addresses the needs of local communities in 40 cities across India. The company claims more than 8 million consumers visit Quikr every month to buy, sell, rent or find things ranging from electronics to cars to real estate to jobs. Explaining the reason behind the investment, Niren Shah, Managing Director, NVP said, "We are impressed by Quikr's tremendous growth, there are about 8 million consumers visiting Quikr on a monthly basis. The idea is to basically help the company grow further in this rapidly growing market." Norwest also has an investment in online community portal - Sulekha.com. Shah said that both the companies have different target areas, focus and approach with Quikr being more inclined towards a Customer to Customer (C2C) segment. Pranay Chulet, CEO of Quikr, said, "We are excited to add a firm like NVP, who brings great pedigree in the global internet business."

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