Kinnevik Leads US$90 Million Financing Round for Quikr with Participation from Warburg Pincus and Other Existing Investors (Asia)

Source: Investment Kinnevik, VCCircle  |  Author: Sainul K Abudheen

Quikr Mauritius Holding, which runs India-based classifieds website, has raised a US$90 million financing round led by Swedish investment firm Investment Kinnevik. The firm contributed US$39.3 million to the transaction, with the rest coming from Quikr’s existing investors, including private equity firms Warburg Pincus, Matrix Partners India and Norwest Venture Partners, along with commerce and payments company eBay, investment firm Omidyar Network and Nokia Growth Partners, the venture investing arm of Nokia. The company raised the capital in two phases starting in September 2013, and intends to use the funding to continue to grow its business. Quikr’s total funding now stands at around US$140 million.