Quikr raises $90 mn in funding led by Kinnevik

Quikr raises $90 mn in funding led by Kinnevik

Author | exchange4media News Service | Thursday, Mar 13,2014 7:59 AM

Quikr raises $90 mn in funding led by Kinnevik

Quikr has announced that it has raised a $90 million investment led by Kinnevik, a leading growth markets-focused investment company, with participation from its principal current investors. Quikr’s current investors include Matrix Partners India, Omidyar Network, Nokia Growth Partners, Norwest Venture Partners, Warburg Pincus and eBay Inc.

This round of funding will enable Quikr to continue to grow its business while staying focused on aspects that are important from a long-term perspective.

Pranay Chulet, Founder and CEO, Quikr said, “We are excited to welcome Kinnevik to Quikr. They bring a great understanding of the classifieds model as an investor and their experience in other markets will be very valuable to us as we continue to build our business.”

Quikr is a large scale cross-category classifieds business with over 30 million consumers and small businesses across 940 cities using it every month. These consumers come to Quikr to sell, buy, rent or find products and services in a variety of categories such as electronics and household goods, real estate, cars, bikes, jobs and services.

“Quikr has grown rapidly based on a deep understanding of the Indian market,” said Mia Brunell Livfors, President and CEO, Kinnevik. “It’s targeting a tremendous opportunity in a large growth market and we look forward to being a part of its exciting journey forward.”

Kinnevik’s other investments include high growth e-commerce platforms in India and the largest classifieds platforms in Russia, Sri Lanka, Bangladesh and Ghana.

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