SnapDeal.com gets $40 mn funding from Bessemer,other investors

NEW DELHI: E-commerce company SnapDeal.com on Friday said it has raised USD 40 million from global investors -- Bessemer Venture Partners, along with existing investors Nexus Venture Partners and IndoUS Venture Partners.

In January this year, Nexus Venture Partners and Indo-US Venture Partners had invested about USD 12 million in Snapdeal.

"This significant investment will help us expand our Products business, further strengthen the local and national merchant deals vertical and introduce various cutting edge innovations to enhance consumer and merchant convenience," Snapdeal.com CEO Kunal Bahl said in a statement.

Snapdeal.com features provides information on the best stuff to do, see, eat, and buy across 50 cities, besides discount vouchers for fine dining, movie tickets, shopping at the top brands, beauty and health packages, among other things.

It has over eight million members and partnerships with over 10,000 brands and retailers from various categories like electronics, fashion accessories and travel.