Quikr raises $150 million in fresh funding

Mumbai-based Classifieds Site Quikr has raised 150 million dollars in new funding by returning investors Tiger Global, Steadview Capital and Investment AB Kinnevik.

According to TechCrunch, the latest round will be used to enhance its mobile business and expand its most active categories like jobs, cars, real estate and services.

The site claimed that it has 30 million users per month including individual consumers and small businesses.

Founder and CEO Pranay Chulet said that the company's 80 percent business comes from its mobile apps.

Chulet said that Quikr will also delve deeper into its jobs and services sections, potentially spinning out each as a separate vertical.