Steven Millward · · 2 min readQuikr gets $150M funding as it battles global giants for India’s classifieds market
Quikr, a classifieds site that’s one of India’s best-funded startups, today revealed that it has secured a further US$150 million in funding. This is its eighth major round of funding, which now totals nearly US$350 million.
“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,” said Pranay Chulet, founder and CEO of Quikr, in a statement.
The fresh investment will go towards Quikr’s push for smartphone users and to help build an upcoming, spin-off real estate portal, reports NextBigWhat.
The site, which started up in 2008, is locked in a ferocious battle against the well-funded multinational OLX, which is taking the potentially massive Indian web market very seriously as it expands across Asia. The Indian startup is also up against specialist classifieds sites in the country such as CarDekho or Housing. (Update: Removed references to Rocket Internet’s Carmudi and Lamudi, which do not operate in India.)
Quikr’s latest cash comes from Tiger Global, Investment AB Kinnevik, and Hong Kong-based Steadview Capital.
(Source: NextBigWhat)
Editing by Josh Horwitz; top image by Tamara Sanderson
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