Shopclues👜 valuation @ 💲1.1 bn

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Indian e-commerce company Shopclues claims its valuation has been boosted📈 to 💲1.1 bn after raising a Series E. The round was led by Singaporean’s sovereign wealth fund – GIC, Tiger 🐯Global and Nexus Venture Partners. Shopclues says that this is the last round of venture capital it will raise before holding an initial public offering next year. The exact amount of the Series E was undisclosed but a source says Shopclues was seeking a range of the 💲150 M to 💲200 M this fall. The valuation brings Shopclues closer to the behemoths: Flipkart, Amazon & Snapdeal👌. CEO Sanjay Sethi says, “We are targeting the kind of shoppers who are now coming online and who you will see more of this year and next.” Shopclues serves as a platform for merchants instead of carrying its own inventory like its competitors.

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