India: Online classifieds platform Quikr gets $8m venture debt from InnoVen

Photo: Reuters

Quikr India Pvt. Ltd, which runs an online classifieds and services portal, has raised Rs 55 crore in debt financing from Temasek-owned InnoVen Capital to grow its operations. It follows the Rs 130 crore venture debt that Quikr raised in 2016 from Brand Capital, the private treaty arm of media conglomerate Bennett, Coleman and Co. Ltd (BCCL). “As a business, we continuously look to optimise our capital structure and saw a very good fit in venture debt to support growth of our transaction businesses,” said Pranay Chulet, Quikr’s chief executive, in a statement on Friday.

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