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NEW DELHI: India’s e-Commerce giant Snapdea said that Ontario Teachers’ Pension Plan, an investment vehicle advised by Iron Pillar and other investors have invested USD 200 million in Snapdeal.
Snapdeal is the market leader in India’s e-commerce sector, with its portfolio of marketplaces and aligned capabilities in payments, logistics and more. Over the last two years, it has made significant investments in technology and in complementary acquisitions in pursuit of its stated aim to build India’s most reliable and frictionless commerce ecosystem. Founded in 2010, Snapdeal has become the fastest-growing and largest online marketplace in India, with more than 275,000 sellers, 30 Million plus products and a reach covering 6000+ towns and cities across India.
Anup Vikal CFO, Snapdeal said, “We see these investments as a continuing endorsement of Snapdeal’s strategy to build India’s most reliable and frictionless commerce ecosystem. We continue to make targeted investments in building internal and external capabilities that will enable us to consistently deliver optimal experience for the millions of buyers and sellers who transact daily on Snapdeal.”
Ontario Teachers' is Canada's largest single-profession pension plan with $154.5 billion in net assets. Since its establishment as an independent organization in 1990, it has built an international reputation for innovation and leadership in investment management and member services.
Iron Pillar is a venture capital fund focused on filling the gap for mid stage technology investments in India. The fund backs proven, visionary consumer and enterprise technology companies post Series A. Iron Pillar has a six person founding team with 17 years of average experience and complementary skill sets in investing, M&A/investment banking, operations and technology. The fund partners with Indian entrepreneurs and early stage investors to help companies scale by leveraging deep experience and networks in China/Asia, India and the US.