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India's Snapdeal raises $200 million led by Ontario Teachers' Pension Plan

India's Snapdeal raises $200 million led by Ontario Teachers' Pension Plan

Postby smix » Mon Feb 15, 2016 12:18 pm

India's Snapdeal raises $200 million led by Ontario Teachers' Pension Plan
Reuters

URL: http://www.reuters.com/article/us-snapd ... SKCN0VO0HY
Category: technologyNews
Published: Mon, 15 Feb 2016 06:39:07 GMT

Description: MUMBAI (Reuters) - 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, SoftBank Group Corp and Foxconn. 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.
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