Quikr has received $150M (Rs 900 Cr) in latest round of funding from existing investors including Tiger Global Management and Investment AB Kinnevik, and first time investor Steadview Capital, a Hong Kong-based firm.
“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 really well and we intend to continue to do that as we go forward. 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.”
said Pranay Chulet, Founder and CEO of Quikr.
The classified portal will use the funding to consolidate its leadership position, invest in mobile and in key categories. Quikr will also utilize the sum for its fast growing mobile business and in key categories where the company already has leadership positions, including goods, cars, real estate, jobs and services. Quikr had raised $60mn in 2014 and launched QuikrNxt, a messaging service 3 months back. Quikr claims to be clocking 30 million monthly consumers and small business users across 1000 cities.