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

Mon Feb 15, 2016 1:39am EST
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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: Quote), SoftBank Group Corp (9984.T: Quote) and Foxconn (2317.TW: Quote).

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)

Commuters sit at a bus stop adorned with an advertisement of Indian online marketplace Snapdeal featuring actor Aamir Khan, in Bengaluru, India, October 15, 2015. REUTERS/Abhishek Chinnappa