Quikr Has Managed To Raise $60 Million For Future Growth And Projects

The funds are flowing left, right and centre. The next one in line to raise funds is Quikr, one of India’s top classified websites, who has managed to raise $60 million. The funds come from Tiger Global Management, a global investment firm. Quikr’s current investors include Warburg Pincus, Ebay Inc. and Nokia Growth Partners.

“The explosive growth in mobile Internet is fundamentally reshaping the Indian classified Internet market, and we are well positioned to be at the forefront of this growth,” said Pranay Chulet, Founder and CEO of Quikr. “This funding round is a powerful validation of our local knowledge and connections, skilled execution and quality management team. We are excited to welcome Tiger Global to Quikr as we continue to further grow our platform”.

“Quikr has grown rapidly to become one of India’s major classifieds players with a deep understanding of the local market,” said Lee Fixel, Partner at Tiger Global Management.

The new capital should help Quikr to expand its reach and grow the company by leaps and bounds in India. Quikr is one of the most popular choice to post free classified ads online in India and people can purchase everything from a mobile phone to cars on this web portal. OLX.in is another classified website in India, who are considered to be the main competition to Quikr.