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Quikr raises $90M from Kinnevik & others

Classifieds website Quikr has raised $90 million in a round led by Swedish investment firm Kinnevik, which the company is expected to use to fund its expansion, reports Economic Times. Existing investor Warburg Pincus made the initial investment in the round in September last year, and the latest deal was signed last week, giving Quikr a valuation of over $250 million. Kinnevik has invested in Rocket Internet in the past and has a 24% stake in the company. In the e-commerce space, Rocket Internet has properties such as Jabong.com and FabFurnish in India. Quikr is a horizontal classifieds platform which allows individuals and small businesses sell, buy, rent or find products and services across various categories like electronics, cars, bikes, real estate, services, jobs, education and entertainment. The company claims to have 32 million monthly unique users and caters to almost 1,000 cities in the country.…

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