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Quikr set to raise Rs 900 crore from Steadview Capital, existing investors

Tags: Quikr, Steadview Capital, Tiger Global, Warburg Pincus, eBay, funding, Kinnevik

March 09, 2015 | COMMENTS ( 0 )

Quikr set to raise Rs 900 crore from Steadview Capital, existing investors

Online and mobile classifieds firm Quikr is set to raise around Rs 900 crore (about $150 million) from existing investors as well as Hong Kong-based Steadview Capital, three people familiar with the development told TOI.

Post the latest round of financing, Quikr's valuation is expected to double to $700-800 million (Rs 4,400-5,000 crore). The seven-year-old company will be valued at around $1 billion. The transaction is expected to be completed in two weeks.

Hong Kong-based Steadview Capital is expected to be the new investor boarding Quikr. Existing investors like Tiger Global Management, Swedish private equity fund Kinnevik and eBay will participate in Quikr's sixth institutional round of funding, sources said.

Quikr's valuation has increased steadily over the past three years. The company was valued at around $100 million in May 2012 when Warburg Pincus invested in it. Its valuation increased to $240 million in March last year and then to $400 million in September, when it raised funding from Tiger Global.

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