[Funding alert] Quikr raises Rs 20 Cr debt funding from Trifecta, total funding now at $441M
Bengaluru-based online classifieds marketplace Quikr has raised a debt funding of Rs 20 crore from Trifecta Capital, according to RoC filings accessed by YourStory. The startup had also received Rs 13.90 crore on May 27 from its Mauritius-based entity. Pranay Chulet-led firm has issued 14,940 equity shares at a premium of Rs 9,300 per share to Quikr Mauritius Holding Ltd.
As per the latest filing, Quikr has issued 200 non-convertible debentures at a nominal amount of Rs 10,00,000 per share on May 14.
In December 2018, InnoVen Capital infused a debt investment of Rs 55 crore in the company.
Quikr has raised close to $441 million in capital till date and has made 15 acquisitions, including Zefo, Babajob, Zimmber, Grabhouse, StayGlad, CommonFloor, Stepni, and a few others. Its investors include Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, NGP Capital, Steadview Capital, and Omidyar Network, among others.
Quikr, which claims to have over 30 million unique users a month, is present in 1,200 cities in India, and operates classified businesses across C2C, cars, education, homes, jobs, and services over its mobile app as well as a desktop site.
For the financial year that ended March 2018, the company’s revenue nearly doubled to Rs 173 crore, and its losses narrowed to about Rs 233 crore from Rs 323 crore in FY 2017.
Last year, Quikr had launched Quikr Assured products and services in categories like furniture, electronics, and appliances. The platform stated that the products in the 'Assured' category come with a full warranty and replacement guarantee, in addition to doorstep delivery.
Quikr claims this business line grew 230 percent year-on-year in the financial year ended March 2019.
In May 2019, Quikr also tied up with Asia’s largest certified refurbished and excess inventory brand Rocking Deals to provide offline services to its customers.
(Edited by Evelyn Ratnakumar)