SnapDeal.com raises $12 Million; funds will be deployed for team and market expansion

Jasper, the parent company of SnapDeal.com, one of India's fastest growing e-commerce websites, which is already among the top 35 websites of India, in terms of traffic, has raised $ 12 mn from leading investors in the Indian digital space, Nexus Venture Partners and Indo US Venture Partners.

According to Kunal Bahl, CEO of Jasper, "The investment will help us to enhance our 300 person strong team by attracting world class talent and to further increase our reach within and outside India. It will also help us in inorganic expansion in the domain of marketing platforms for SMEs and well established brands".

Snapdeal.com which is Jasper's consumer facing business is a unique offering started in Feb 2010, which offers average savings of 50% - 90% at popular restaurants, spas, salons, movie theatres, among other leading categories. Consumers can log on to the site and purchase attractive deals at popular destinations across their city. In the short span of time since its inception, SnapDeal now has over a million subscribers, and is adding a new subscriber every 7 seconds.

Jasper also owns other consumer marketing platforms like MoneySaver and the recently launched BabyBox. The company has operations across 50 cities in India, and has worked with over 50,000 retailers from various categories.