Snapdeal raises $200 mn from various investors
New Delhi: Online marketplace Snapdeal said on Monday it raised $200 million from investors led by Canada’s Ontario Teachers’ Pension Plan and funds advised by Iron Pillar.
“We see these investments as a continuing endorsement of Snapdeal’s strategy to build India’s most reliable and frictionless commerce ecosystem,” said a company statement, quoting Chief Financial Officer Anup Vikal.
The company said it continued to make targeted investments in building internal and external capabilities that would enable it to deliver optimal experience for the millions of buyers and sellers who transact daily on Snapdeal.
Founded in 2010, Snapdeal has more than 275,000 sellers, 30 million plus products and a reach covering 6,000 plus towns and cities across India.
In its journey so far, Snapdeal has partnered with several global investors and individuals such as SoftBank, BlackRock, Temasek, Foxconn, Alibaba, eBay Inc., Premji Invest, Intel Capital, Bessemer Venture Partners, and Ratan Tata.