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Quikr Raises Rs.365 Crore Funding by Tiger Global Management

SI Team
Wednesday, October 8, 2014
SI Team
India's leading online horizontal classifieds platform, Quikr, has raised Rs.365 crore investment led by new investor Tiger Global Management. Existing investors Kinnevik, Matrix Partners India, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus and eBay Inc who has been helping Quikr to add more value to its customers also participated in the funding round. The company looks forward to use the fund in product development and also wishes to expedite further expansion in its fast growing mobile business.

Launched in 2008, Quikr kicked off its journey with a vision to enable buyers and sellers to meet online and transact offline in a simple, hassle-free and convenient way. Today, the company is recognized as one of the well-known success stories in the e-Commerce start-up realm. With over 4.2 million listings in its folder, this Mumbai based company has branched out across over 940 cities throughout India and is also claimed to be accessed by more than 30 million unique users and 26 million brand new customers per month. Quikr has generated over 150 million replies across its 13 categories and 170 sub-categories such as mobile phones & electronics, real estate, cars and bikes.

"The explosive growth in mobile Internet is fundamentally reshaping the Indian classified Internet market, and we are well positioned to be at the forefront of this growth. This funding round is a powerful validation of our local knowledge and connections, skilled execution and quality management team. We are excited to welcome Tiger Global to Quikr as we continue to further grow our platform," says Pranay Chulet, Founder and CEO, Quikr.

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