Quikr raises funding for $150 million from Series ‘H’ from venture capital companies. The company was earlier known as Kijiji India Pvt Ltd. Mumbai based was founded in 2008 by Pranay Chulet. Quikr operates in 900 cities across India and provide local community with a platform to help them buy, sell, rent and find something across several categories.
Quikr have 12 categories and further divided sub categories over 140 range from mobiles, real estate, cars, services, jobs, entertainment, furniture, electronics, two wheelers etc., Quikr is a large scale cross category classifieds business with over 30 million consumers. Most of these consumers come to the Quikr.com to sell, buy, rent or find products and service in a variety of categories such as electronics and household goods, real estate etc.,
Mobile and Internet based classifieds company Quikr Mauritius Holding P Ltd; the parent company of Quikr India P Ltd owns the online portal of Quikr.com. The company has raised several rounds of funding from venture investors.
Quikr has raised several rounds of funding till now. The company received the Series ‘C’ funding of $6 million in 2010 from Norwest Venture Partners. In 2011, Quikr received Series ‘D’ funding of $8 million from Nokia Growth Partners, Norwest Venture Partners and eBay. Warburg Pincus, Matrix Partners, Norwest Venture Partners and eBay funded $32 million in 2012 as Series ‘E’ funding.
In Mar, 2014 Quikr received Series ‘F’ funding of $90 million from Warburg Pincus, Matrix Partners, Norwest Venture Partners, Omidyar Network, Investment AB Kinnevik and eBay. With 6 months of funding of ‘F’ Series Quikr raised another round of funding as ‘G’ series for $60 million from existing investors.
In Apr, 2015 the company received Series ‘H’ received from Steadview Capital, Investment AB Kinnevik and Tiger Global Management.
Lorenzo Grabau, Chief Executive Officer of Kinnevik said after funding “We are pleased with the progress that Pranay and his team have achieved over the last 12 months, in particular with the success achieved by the recently launched instant messaging platform. We look forward to supporting the growth of Quikr as the leader in horizontal classifieds in the world’s third-largest internet market,”
“Quikr has built its market-leading position by steadily innovating new features, such as messaging, which are rooted in its deep understanding of India as a market and mobile as a medium,” said Lee Fixel, Managing Partner of Tiger Global.
The funding will be used to further invest in mobile business and in key categories such as cars and real estate. Already Quikr has launched quikrhomes.com to allow B2C and C2C segment to buy, sell, rent properties.