Indian ecommerce player
Snapdeal, which has off lately been struggling with losses and acquisition issues, has secured Rs113 crore of funds in an emergency financing round from its existing investor
Nexus Venture Partners, and founders
Kunal Bahl and
Rohit Bansal, says a
Livemint report.
Nexus, which was one of the earliest investors in Snapdeal, has invested Rs96.26 crore in this funding, says documents with the Registrar of Companies. Bahl (CEO) and Bansal (COO) have contributed Rs 8.45 crore each.
India’s largest ecommerce company
Flipkart has already signed a
binding term-sheet to acquire Snapdeal, and the deal is expected to go through in the next few days.
