Online classifieds portal Quikr has raised a funding of $90 million (Rs. 550 crore) in a round led by Swedish investment firm Investment Kinnevik and saw the participation from  other investors including eBay, Omidyar Network, venture capital firms Matrix Partners India, Nokia Growth Partners and Norwest Venture Partners. This funding spread across two rounds is the largest round of funding ever raised by an Indian internet company so far.

Quikr is expected to use the amount raised to fund its expansion.

A person with the knowledge of this investment told The Economic Times that the initial investment in this funding was provided by Warburg Pincus, an existing investor, in September last year. The second deal was signed last week. After this deal, Quikr is now values at over $250 million (Rs. 1,530 crore).

Investec and Avendus Capital acted as the financial advisors for the transaction.

This is also the first direct investment in India by Kinnevik, an investment company.

So far Quikr has raised around $150 million (Rs. 900 crore) in seven round of funding, which makes it one of the best-funded consumer internet companies in the country.

In a previous interaction with ET, Pranay Chulet, co-founder and Chief Executive Officer of Quikr had said that the five-year-old company sees 32 million unique visitors every month. The website has a presence in almost 1,000 cities across the country, with listings spread across close to 50 sub-sectors, such as real estate, cars, jobs, household goods and services and education. The company has three revenue streams - premium listings, leads generation and advertising that contribute to an estimated revenue run-rate of $50 million.