Online classifieds company Quikr has just announced that it has raised Rs 900 crore in funding from new and existing investors. The company says that this fresh influx of money will be used to spur the company’s presence in the mobile space; consolidate its leadership position and other key categories of expansion including goods, cars, real estate, jobs and services.
“We’ve undertaken this transaction to further consolidate our leadership in the Indian classifieds market. Our strategy of innovating for the local market has played out well and we intend to continue to do that as we go forward.” said Pranay Chulet, Founder and CEO, Quikr.
“The big things for us going forward are to continue to innovate for India, innovate for mobile, and go deeper in key categories where we already are leaders,” Chulet added.
Quikr has over 30 million monthly consumers and small business users across 1,000 cities. The company is focused on delivering the best possible classifieds experience to the Indian consumer, and has brought out a series of innovations to adapt the conventional classifieds model to the needs of the local consumers.
“Quikr has built its market-leading position by steadily innovating new features, such as messaging, which are rooted in its deep understanding of India as a market and mobile as a medium. We are excited to be a part of this growth story, which offers millions of Indians an easy way to transact with one another across a number of categories,” said Lee Fixel, Partner, Tiger Global.