This is why Snapdeal is in no hurry to raise money

India’s eCommerce segment has witnessed a boom in the recent years. Foreign direct investments (FDI) have formed the lifeline for the major e-tailers in India and companies like Flipkart have engaged continuously in raising funds to expand their businesses.

However, Snapdeal.com seems relaxed for the time being, thanks to Japan’s Soft Bank. In October last year, the online marketplace has raised $627 million from the Japanese multinational firm and is well capitalised for the next couple of years.

Kunal Bahl, chief executive of Snapdeal.com, told the financial daily, "(We) don't have to raise money now just because it is fashionable."

In the country’s $12-billion online retail market, Snapdeal has occupied the second position with Flipkart leading the race. The gross merchandise volume has positioned Amazon.com after Snapdeal.

(Image: Reuters)