India’s Snapdeal raises $200 million led by Ontario Teachers’ Pension Plan
MUMBAI – Indian online marketplace Snapdeal has raised $200 million in a fresh funding round led by Canada’s Ontario Teachers’ Pension Plan, the company said.
The latest fund-raising follows $500 million raised last August in a round led by Alibaba Group Holding (BABA.N), SoftBank Group Corp (9984.T) and Foxconn (2317.TW).
The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, from an expected $11 billion this year, Bank of America Merrill Lynch said in a recent report. -Reuters