Quikr, an India-based classifieds business, has raised a $90m growth funding investment led by Sweden-based investment company, Kinnevik with participation from its principal current investors, including Matrix Partners India, Omidyar Network, Nokia Growth Partners, Norwest Venture Partners, Warburg Pincus and eBay Inc.
Pranay Chulet, founder and CEO of Quikr said: “We are excited to welcome Kinnevik to Quikr. They bring a great understanding of the classifieds model as an investor and their experience in other markets will be very valuable to us as we continue to build our business.”
“Quikr has grown rapidly based on a deep understanding of the Indian market,” said Mia Brunell Livfors, president and CEO of Kinnevik. “It’s targeting a tremendous opportunity in a large growth market and we look forward to being a part of its exciting journey forward.”
Kinnevik’s other investments include classifieds platforms in Russia, Sri Lanka, Bangladesh and Ghana.