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India's Snapdeal Raises $200 Million Led by Ontario Teachers' Pension Plan

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

Reuters

15 February 2016

MUMBAI, India — 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 , SoftBank Group Corp and Foxconn.

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.

By Himank Sharma; editor: Gopakumar Warrier.

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