Nexus Venture Partners announces that it has led a $12 million Series B investment round in discount coupons site SnapDeal, which is owned by Delhi-based direct marketing company Jasper. IndoUS Venture Partners, which had invested in the company earlier as part of its Series A round, has also participated in the current investment round.
SnapDeal, says VCCircle, plans to use the money to further expand its global presence and is looking to acquire companies in South East Asia. The company claims a presence in 30 cities in India.
Jasper also owns Grabbon, a Bangalore-based group buying site which it acquired in June last year. The size of the deal was not disclosed. In October last year it launched a $2 million fund called Jasper Marketing Innovation Fund to invest in marketing services companies.
