In the latest sign that India’s e-commerce market is surging, ShopClues announced today it had raised $100 million in a round led by Tiger Capital.
ShopClues, launched almost four years ago, provides an online platform that creates a marketplace that matches sellers and buyers. Its competitors in India include Flipkart and Snapdeal.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1644847,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,","session":"D"}']According to ShopClues, it now has 100,000 sellers and more than 10 million products. And it says it is growing 600 percent, year-over-year.
Tiger, based in New York, raised a $2.5 billion fund late last year that has it aggressively looking for deals like ShopClues around the world, particularly in emerging markets.
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