Business

Quikr raises Rs 900 cr from investors

Classifieds’ portal Quikr today said it has raised $ 150 million (RS 900 crore) from investors such as Tiger Global Management and Investment firm AB Kinnevik, as well as first-time investor, Hong Kong-based Steadview Capital.

“This fresh round of funding will be used to further invest in Quikr’s fast growing mobile business and in key categories where the company already has leadership positions, including goods, cars, real estate, jobs and services,” it said.

“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.” said Pranay Chulet, Founder and CEO of 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,” he added.