India’s largest online classifieds site, Quikr, has raised $90 million in fresh funding from a group of investors led by Sweden’s Kinnevik, according to this report.
The latest round, which would take the total capital raised by Quikr to around $136 million ,values the startup at over $250 million, the report added.
Quikr had raised $32 million from Warburg Pincus, Matrix Partners, Norwest Venture Partners and eBay in Series E funding in May 2012.
The latest funding in Quikr also underscores growing interest from newer investors in India’s online commerce. Kinnevik has already backed other online classifieds startups globally including Russia’s Avito, which became the world’s third biggest classifieds site after its $570 million deal with Naspers last year.
Quikr is among the fastest growing Internet businesses in India, as more Indian Internet users buy and sell products, services online. The startup gets around 32 million unique visitors every month, and has annual revenues of around $50 million earned mostly through advertising and premium listings.