Quikr Secures $90 mn Funding from Swedish PE Firm Kinnevik & Others
Swedish 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:
- May 2012: Quikr had raised $32 mn from private equity firm Warburg Pincus and existing investors.
- March 2010: Quikr Raises $ 6 Million Series C Funding Led by Norwest Venture Partners (NVP)
- July 2009: Quikr raised Rs 20 Crores from Matrix India and Omidyar Networks
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.