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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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.