Quikr raised USD 90 million in funding round led by Kinnevik

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Online and mobile classifieds site Quikr has raised USD 90 million in its fifth major funding round from a group of investors led by Swedish investment firm Investment Kinnevik – making it one of the biggest funding ever raised by an Indian internet services company.

There has been no word on this by Quikr’s founder or any of the investors. But according to The Economic Times, which first disclosed the news claimed that the investment is confirmed and was spread across two rounds, with existing investor Warburg Pincus providing the initial investment in September last year. 

 The report also claimed that the company’s total valuation has reached to over USD 250 million.

 Other investors who have participated in this latest round includes Norwest Venture Partners, Omidyar Network, eBay and Nokia Growth Partners. The company has now raised nearly USD 150 million in total.

Quikr is an online and mobile classifieds platform which allows individuals and businesses to sell, buy and rent products/services across various categories like electronics, cars, bikes, real estate, entertainment, jobs and much more.

In India, the company competes majorly with Sulekha and Olx.in – in addition to other platforms like Rediff Local Ads and HT Classifieds.

The author can be reached at devesh@iamwire.com

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