Snapdeal raises funds

Mumbai, MAY 30: A good news for the online market platform. Snapdeal has raised about 17 million dollars from its existing investors such as Nexus Venture Partners. Sources say that move would help the merger of the company with Flipkart.

Registrar of Companies says the parent investor of Snapdeal has invested about Rs 96 crores in the Delhi-based company.



The documents mention that the founders Kunal Bahl and Rohit Bansal have also invested in about 17 crores in the company.The total fund the company raised is 113 crore.

Experts say that this would move help to regain from losses. Let's hope that the company uses its resources judicially.