Indian e-commerce giant Snapdeal has recently raised $200 million (Rs. 1363 crore) from Canadian Ontario Teachers’ Pension Plan (OTPP) and other investors. Other venture capital funds such as Iron Pillar also took part in the round.
Last August, the second largest e-commerce brand in India had raised $500 million from Alibaba group, Chinese e-commerce giant, Foxconn Technology Group and existing investor SoftBank Group, which valued the New Delhi-based firm at about $4.8 billion post money, according to a report by The Live Mint.
The company has not revealed the current valuation after its latest fundraising. “We continue to make targeted investments in building internal and external capabilities that will enable us to deliver consistently an optimal experience for the millions of buyers and sellers who transact daily on Snapdeal,” Anup Vikal, chief financial officer of Snapdeal told the Live Mint.
The e-commerce company was founded in 2010 by Kunal Bahl and Rohit Bansal as a deals site. The company has more than 275,000 sellers and over 30 million products. It currently delivers goods to more than 6,000 cities and towns in India.