Quikr Secures $90 mn Funding from Swedish PE Firm Kinnevik & Others

quikr_logo_f3Swedish investment firm Kinnevik, which has backed companies such as Rocket Internet, and a clutch of investors have pumped in $90 mn in online classifieds company Quikr, according to a new report.

Kinnevik, which primarily invests in consumer centric businesses, was the lead investor in the round which saw participation from Warburg Pincus, Norwest Venture Patners, eBay and Nokia Growth Partners. The deal values the company at $250 mn, the Economic Times reported. (via)

In total, the company has completed 7 rounds of funding so far. Here’s a quick look the important funding announcements it has made:

The company, which competes with others classifieds players such as Olx and Click, was founded by IIM- Calcutta alumnus Pranay Chulet and Jiby Thomas who were colleagues at eBay. In 2008, the company which was earlier known as Kijiji India, rebranded to Quikr.

Both Quikr & Olx are on a marketing spree these days. The companies have been running marketing campaigns across television and offline channels such as hoardings.