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E-commerce player Snapdeal raises nearly Rs 1,367.6 crore

This is the 11th round of funding in Jasper Infotech-owned Snapdeal.

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Snapdeal is the shopping destination for Internet users and has millions of users and 150,000 sellers.
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E-commerce player Snapdeal has raised $200 million (nearly Rs 1,367.6 crore) from foreign investors, according to a report in Business Standard. 

Ontario Teachers' Pension Plan and Singapore-based investment entity Brother Fortune Apparel have led the 11th round of funding in Jasper Infotech-owned Snapdeal, the report said. The former is Canada's largest single-profession pension plan with $154.5 billion in net assets.  

ALSO READ: Snapdeal raises nearly Rs 3,269 crore from Alibaba, Foxconn, Softbank

According to an earlier dna report, in August 2015, online marketplace Snapdeal had raised $500 million (nearly Rs 3,419 crore) in a fresh round of funding from a clutch of investors led by Alibaba Group, Foxconn and SoftBank. At that time, according to market estimates, the market value of the company was at around $4-5 billion (nearly Rs 27,352-34,190 crore). 

After this latest round of funding, Snapdeal's market valuation has gone past $6.5 billion (nearly Rs 44,447 crore) up from its earlier valuation in last August, says Business Standard.  

Snapdeal is the shopping destination for Internet users and has millions of users and 150,000 sellers.The e-commerce company delivers products to 5000 plus cities and towns in India. 

 

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