Quikr Mauritius, the holding company for free online classifieds business website Quikr has raised $8 million (Rs 357.25 million) in a funding round led by a fresh investor, Nokia Growth Partners (NGP), and returning investors, Norwest Venture Partners and eBay Inc. The company intends to use the funding for growing its business across the internet and mobile platforms.
This is the fourth funding round for Quikr. It had last raised $6 million from Norwest Venture Partners (NVP), and returning investors, Omidyar Network, Matrix Partners India and eBay Inc, in March 2010. The company has so far raised more than Rs 850 million in various funding rounds. It was initially funded by Matrix Partners India.
According to the company, Quikr offers classified services in 40 cities across India and gets 10 million visitors in a month. At the time of its last round of funding, the company had claimed 8 million monthly users. It allows users to post free classified ads, allowing them to buy, sell, rent or get services, across categories like electronics, furniture, home appliances, jobs, and real estate, among others. The company monetizes through advertising, premium(priority) listings and leads for small businesses, on its site.
Quikr competes with other free online classifieds businesses – Rediff LocalAds, Sulekha, Greynium owned Click.in, Nexus India Capital funded Olx.in, ClickIndia, HTClassifieds.com, among others. Intrestingly, NVP is also an investor in Sulekha.
Note: We’ll update with inputs from Quickr’s Registrar of Companies filings shortly
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