New Delhi : Online marketplace ShopClues said it has raised over USD 100 million (more than Rs 615 crore) in Series D from a group of investors led by Tiger Global, reports PTI.
The new round also saw participation from majority of existing investors, ShopClues said in a statement. Previously, ShopClues had raised funds in Angel, A, B and C rounds from leading investors like Helion Venture Partners and Nexus Venture Partners.
The company claims to have brought 100,000 sellers and 10 million products online and will focus in the next three years on bringing 10 million sellers and 1 billion products to the online domain, it added.
Founded in 2011, ShopClues does 1.5 million transactions per month with 70 per cent of them coming from tier II and & III cities.
The e-commerce firm gets over 40 million visitors/month.
In August last year, the company said it expects the gross merchandise value (GMV) to hit Rs 1,500 crore for the current fiscal ending March 2015. Avendus Capital was the advisor to this transaction.
