Indian e-commerce marketplace ShopClues, has raised USD 100 million in funding in Series D round of investment led by Tiger Global Management and some existing investors, at a post money valuation of USD 500 million.
Commenting on the capital raise, Sanjay Sethi, CEO & co-founder, ShopClues said, “So far we have brought 100,000 sellers and 10 million products online and the next three years will be focused on bringing 10 million sellers and 1 billion products to the online domain. We will continue to build Technologies & services to enable and empower retailers to participate in the eCommerce revolution that is happening in India.”
The company had generated net revenues of around INR 30 crore with net loss of INR 38 crore for on going financial year ending March 31 2014.
The company has raised a total of USD 116.3 million in a total of 5 rounds from Tiger Global, Nexus Venture Partners, Helion Venture Partners and a few angel investors, including this round. It had raised USD 10 million in Series B from Helion and Nexus, along-with Teruhide Sato and CEO of Netprice.
Tiger Global is also an investor in several other Indian e-commerce companies like Flipkart, Myntra (Got acquired by Flipkart), Limeroad, Zovi, Commonfloor, Quikr, Olacabs among others.