Saltside Technologies, a Gothenburg, Sweden-based company that runs online classifieds platforms in Bangladesh, Sri Lanka and Ghana, raised $40m in funding.
The round was led by Hillhouse Capital with participation from Brummer & Partners and Investment AB Kinnevik.
The company intends to use the funds to reinforce its positions in existing markets and expand into new frontier markets, accelerate investments in product development and brand building.
Founded in 2011 and led by Nils Hammar, CEO, Saltside Technologies builds online marketplaces in underserved markets, creating sustainable value for local communities. It runs Bikroy.com (Bangladesh), Ikman.lk (Sri Lanka), Tonaton.com (Ghana) and Dekho.com.pk (Pakistan).
The company currently employs more than 200 people across 5 countries.