Snapdeal raised 200 mn USD with Ontario Teachers Pension

Snapdeal raised 200 mn USD with Ontario

Snapdeal raised 200 mn USD with Ontario Teachers Pension Plan (OTPP). Venture capital fund Iron Pillar and other investors also participated in the latest round.

Last year in August, Snapdeal raised $500 million, from Chinese e-commerce giant Alibaba Group, Foxconn Technology Group and existing investor SoftBank Group, which increased the firm value to $4 billion.

Organization has long list of Investors. With some famous name like Azim Premji, Ratan Tata, Alibaba, SoftBank, BlackRock, Temasek, Foxconn, Intel Capital and many others.

Ontario Teachers’ is Canada’s largest single-profession pension plan with $154.5 billion in net assets. Iron Pillar is a venture capital fund focused on filling the gap for mid stage technology investments in India.

Snapdeal was launched in 2010 by Kunal Bahl and Rohit Bansal as a deals site. It was promoted by New Delhi based Jasper Infotech Pvt. Ltd. Now SNapdeal is second biggest online shop after Flipkart.

The company has more than 2, 76,000 sellers and more than 30 million products listed on their site. Snapdeal offers delivery options to more than 6000 cities in India.

According to Anup Vikal, chief financial officer, Snapdeal “We see these investments as a continuing endorsement of Snapdeal’s strategy to build India’s most reliable and frictionless commerce ecosystem. We continue to make targeted investments in building internal and external capabilities. That will enable us to consistently deliver optimal experience for the millions of buyers and sellers who transact daily on Snapdeal.”

Singapore-based Brother Fortune Apparel Pte Ltd has invested Rs 335 crore in the New Delhi-headquartered company. According to documents filed by the company with the Registrar of Companies (RoC) on Friday.

Brother Fortune is an entity that represents several Chinese high net-worth individuals. They were advised by Iron Pillar, the new venture capital firm focused on mid-market technology investments. It was founded by former Citi India M&A head Sameer Nath and ex-Morgan Creek C.