Jasper Infotech, owner of one of India’s leading online marketplaces Snapdeal, has managed to pump Rs 140 crore funding from Luxembourg based investor, Clouse SA. With this development, the company has successfully completed its recent funding round.
As per recent filling at Registrar of Companies by Jasper Infotech, the latest tranche is part of the Series J round announced by the company a little over six months ago, and which saw the entry of Singapore-based investment entity Brother Fortune Apparel Pte Ltd, on to the company's investment cap table.
Revealing the information to one of the dailies, company’s spokesperson stated that the raising of fresh funds at a consistent pre-money valuation, is a reflection of the robust performance of Snapdeal, and its continued focus on building a longterm business, based on strong fundamentals, like best-in-class customer experience and consistent growth in net revenue.
In February, Brother Fortune Apparel Pte Ltd, an investment entity that represents several Chinese high net-worth individuals, had invested about Rs 335 crore in Snapdeal. The investment entity was advised by Iron Pillar, the venture capital firm focused on mid-market technology investments, and which has been founded by former Citi India M&A head Sameer Nath and ex-Morgan Creek Capital director Anand Prasanna.
Additionally, Bennett, Coleman & Co Ltd, the publisher of The Economic Times, had also participated in the February round, and was issued 15,638 warrants estimated at Rs 25.49 crore.