Quikr secured a $2.9 million debt financing, according to the India Dealbook. The financing was provided by Trifecta Capital. The article does not describe Quikr’s product, operations, revenue, users, founding year, or location. No use-of-proceeds or other financial terms were disclosed. The published report only specifies the size and instrument of the financing and the lender involved. Quikr India Pvt. Ltd operates an online classifieds and services portal in India. The company is focused on growing its operations and supporting its transaction businesses. To support that growth it raised Rs 55 crore (about $8m) in venture debt from Temasek-owned InnoVen Capital. This financing follows a prior Rs 130 crore venture-debt round in 2016 from Brand Capital, the private-treaty arm of Bennett, Coleman and Co. Ltd (BCCL). Quikr CEO Pranay Chulet said the company continuously looks to optimise its capital structure and saw a very good fit in venture debt to support growth of its transaction businesses. Quikr India Pvt. Ltd is described in the article as an online classifieds firm. The company has raised around Rs.130 crore (approximately $20 million) from Brand Capital. The investor is identified as Brand Capital, the private‑treaty arm of Bennett, Coleman and Co. Ltd (BCCL). The article does not disclose specific deal terms, the instrument used, or use of proceeds. No operating metrics, prior rounds, founding year, or additional investors were reported in the article. Quikr operates India’s largest classified-ads site, offering listings across cars, real estate, jobs, and services and claims 30 million monthly users. The company says 80% of its business comes through its mobile apps and that a majority of users now communicate via its QuikrNXT messaging feature, launched in January. Quikr is active in 1,000 cities across India and serves both individual consumers and small businesses. The business plans to deepen focus on its most active categories and to enhance its mobile experience using the new funds. Management intends to launch a separate property portal, quikrhomes.com, and may spin out jobs and services as distinct verticals. The current financial position includes the recent $150M financing and a stated total funding base of $350M to date. Quikr operates a large-scale, cross-category classifieds site used by over 30 million consumers to sell, buy, rent or find products and services across categories such as electronics, real estate, cars, bikes, jobs and services. The company says small businesses across 940 cities use the site and it reported around half a million small merchants on the platform in a recent interview. Quikr has seen rapid growth—management said revenue grew five times over the prior 12 months—and the firm has been focusing on improving content quality and user engagement. The latest capital will be used to invest in product development and to further expand its mobile business as mobile internet reshapes the classifieds market. Founded in 2008 by Pranay Chulet and Jiby Thomas, Quikr was originally started as Kijiji India and later rebranded. The firm competes primarily with OLX in the Indian classifieds market.

Total raised

$382M

Funding rounds

11

Latest round

Debt Financing

Latest activity

Jul 2019