February 15, 2016 / 6:43 AM / in 2 years

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

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.

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

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

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