AVITO.ru, an online classifieds website in Russia, has received $75m in new funding.
Backers include Baring Vostok Private Equity Fund IV, Accel Partners, and existing investors Kinnevik and Northzone.
The company intends to use the new funds to continue to expand its reach throughout Russia and hire new people.
Co-founded and launched in October 2008 by CEO Jonas Nordlander and executive director Filip Engelbert, AVITO.ru helps SMBs including traditional retailers as well as real estate agencies and automobile dealerships, drive additional sales without fees charged for an ad placement.
Users may pay for optional functions, such as advanced search functionality, highlighting ads, etc. Avito, which also offers a special service for small and medium businesses called “AVITO.ru online shop”, currently attracts close to 30m monthly unique users.
FinSMEs
02/05/2012