Quikr raises Rs 900 crore in funding; invest in mobility

Online classifieds portal Quikr today said it has raised $150 million (about Rs 900 crore) from investors, including existing ones.

The additional funding will be utilised to consolidate its leadership position, invest in mobile and in key categories, it said in a statement.

The financing round included significant investment by its existing investors Tiger Global Management and Investment AB Kinnevik, and first time investor Steadview Capital, a Hong Kong-based firm, it added.

"This fresh round of funding will be used to further invest in Quikr's fast growing mobile business and in key categories where the company already has leadership positions, including goods, cars, real estate, jobs and services," the firm said.

The firm's strategy of innovating for the local market has played out really well and Quikr intends to continue to do that as we go forward, Quikr Founder and CEO Pranay Chulet said.

"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," he added.

Quikr has more than 30 million monthly consumers and small business users across 1000 cities.

The firm had last year raised $60 million funding for business expansion.