AZB and Indus lead on Warburg Pincus 32 million investment in Quickr

Quickr, the internet and mobile based classified leader, has raised an investment of $32 million (Rs. 176 crore) led by Warbug Pincus and existing investors Matrix Partners India, Norwest Venture Partners and eBay Inc in its fifth round of funding..AZB & Partners advised Warburg Pincus with a team led by Partner Srinath Dasari along with Associate Nanditha Gopal..Indus Law advised Quickr with a team led by Partner Gaurav Dani..Launched in 2008, Quikr is a classifieds site used by 17 million people and small businesses across 83 Indian cities each month. Currently present in over 40 cities, Quikr plans to launch in 30 more shortly, reports Dealcurry..According to ET, since its launch in 2008, Quickr has raised around $50 million in funding. Two other investors in the company Nokia Growth Partners and Omidyar Networks, did not participate in this round of funding..The company is an online marketplace for buyers and sellers to connect. However, transactions are concluded offline..Through Quickr, users can find an apartment to live in, sell their old car or electronic products, promote their small business, find a life partner, join a salsa class, get an audience for a local event or trade any item that they might want or have to offer. The company is also exploring the potential of introducing other categories like financial services.