Technoglitch
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Online market place Snapdeal has raised $ 200 million from Ontario Teachers’ Pension Plan and other investors as it looks to add more muscle to compete with likes of Amazon and Flipkart.
The latest fund-raising follows $ 500 million raised last August from Alibaba Group, SoftBank and Foxconn.
Founded in 2010, the Softbank-backed firm has Snapdeal has over 2.75 lakh sellers on board.
“We see these investments as a continuing endorsement of Snapdeal’s strategy to build India’s most reliable and frictionless commerce ecosystem,” Snapdeal Chief Financial Officer Anup Vikal said in a statement.
The company continues to make targeted investments in building internal and external capabilities to consistently deliver optimal experience, he added.
Snapdeal raises $200 million led by Ontario Teachers’ Pension Plan | The Financial Express
The latest fund-raising follows $ 500 million raised last August from Alibaba Group, SoftBank and Foxconn.
Founded in 2010, the Softbank-backed firm has Snapdeal has over 2.75 lakh sellers on board.
“We see these investments as a continuing endorsement of Snapdeal’s strategy to build India’s most reliable and frictionless commerce ecosystem,” Snapdeal Chief Financial Officer Anup Vikal said in a statement.
The company continues to make targeted investments in building internal and external capabilities to consistently deliver optimal experience, he added.
Snapdeal raises $200 million led by Ontario Teachers’ Pension Plan | The Financial Express
