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Indian online retailer ShopClues bags $100 million funding
23
Jan '15
ShopClues, an Indian online marketplace said it has raised over US $100 million in Series D from a group of investors led by Tiger Global, which also saw investments from a majority of existing investors.

Founded in Silicon Valley in June 2011 and which began its Indian operations in January 2012, the deal values the ecommerce site at $350 million.

Earlier, ShopClues had raised funds in Angel, A, B and C rounds from investors like Helion Venture Partners and Nexus Venture Partners.

ShopClues claims that it has 100,000 sellers and 10 million products online and its focus will be on bringing 10 million sellers and 1 billion products to the online domain within the next three years.

"ShopClues has emerged as the leading marketplace of choice for millions of small and local businesses seeking to reach mass consumers in India's tier II and tier III cities," Tiger Global's Lee Fixel said.

ShopClues does 1.5 million transactions per month with 70 per cent of them coming from tier II and & III cities and gets over 40 million visitors/month.

Fibre2fashion News Desk - India

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