India's Snapdeal raises $200 million led by Ontario Teachers' Pension Plan

Reuters News
Posted: Feb 15, 2016 1:39 AM

MUMBAI (Reuters) - Indian online marketplace Snapdeal has raised $200 million in a fresh funding round led by Canada's Ontario Teachers' Pension Plan, the company said.

The latest fund-raising follows $500 million raised last August in a round led by Alibaba Group Holding <BABA.N>, SoftBank Group Corp <9984.T> and Foxconn <2317.TW>.

The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, from an expected $11 billion this year, Bank of America Merrill Lynch said in a recent report.

(Reporting by Himank Sharma; Editing by Gopakumar Warrier)