Info-tech

Quikr raises ₹900 crore from Steadview, other investors

Priyanka Pani Mumbai | Updated on January 24, 2018 Published on April 07, 2015

Pranay Chulet, Founder and CEO, Quikr

This is the sixth round of funding for the portal

Online classified site Quikr has raised a fresh round of $150 million ( Rs 900 crore approximately) from the Hong Kong-based Steadview Capital along with its existing investors, including Tiger Global Management and Investment AB Kinnevik. The company had in five earlier rounds raised over $196 million from nine investors.

With this fresh funding, Quikr plans to grow its mobile business and invest in key categories where the company already has a leadership position, including goods, cars, real estate, jobs, and services.

“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 well and we intend to continue to do that as we go forward.” said Pranay Chulet, Founder and CEO, 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," Chulet added.

Quikr has over 30 million monthly consumers and small business users across 1,000 cities. The company is focused on delivering the best possible classifieds experience to the Indian consumer, and has brought out a series of innovations to adapt the conventional classifieds model to the needs of the local consumers.

“Quikr has built its market-leading position by steadily innovating new features, such as messaging, which are rooted in its deep understanding of India as a market and mobile as a medium. We are excited to be a part of this growth story, which offers millions of Indians an easy way to transact with one another across a number of categories,” said Lee Fixel, Partner, Tiger Global.

Published on April 07, 2015
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