Warburg Pincus Participates in a US$60 Million Financing Round for Quikr and a US$260 Million Round for Youxinpai.com (Asia)
Source: Quikr, Youxinpai.com, Asian Venture Capital Journal | Author(s): Winnie Liu
India-based online classifieds business Quikr has secured a US$60 million financing round led by new investor Tiger Global Management. Existing investors Warburg Pincus, Kinnevik, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Omidyar Network and eBay also participated in the round. Quikr intends to use the funding for product development and expansion of its mobile business. Separately, Warburg Pincus and Tiger Global Management have participated in a US$260 million financing round for China-based second-hand car auction platform Youxinpai.com. The capital will be used to expand the company’s network in new cities.