Jasper Infotech raising $12 mn to fund expansion

BANGALORE: Delhi-based marketing solutions firm Jasper Infotech, which owns group buying arm Snapdeal.com, is raising nearly $12 million from venture capital firms to fund an aggressive marketing campaign and overseas expansion.

“Nexus Venture Partners and Matrix Partners were initially pitching in for the deal, but Nexus is likely to close the deal this week,” said a person familiar with the development, who did not wish to be quoted.

A Nexus spokesperson declined to comment on the deal when contacted by ET.

Jasper, is also the holding company for Moneysaver, an outfit which offers co-branded discount cards and coupons on mobile phones. At least three people familiar with the development said the major chunk of the $12 million will come from Nexus Venture, while the rest will come from existing investors such as IndoUS Venture Partners.