OLX, the Craigslist for the rest of the world, has raised $5 million in funding from Nexus India Capital. OLX raised $13.5 million in Series B funding in April 2008 from General Catalyst Partners, Bessemer Venture Partners, Founders Fund and DN Capital, bringing the total raised to date to $28.5 million.
“In the past three years, OLX has grown to 125 employees, launched in 87 countries in 39 languages, completed four acquisitions, including the purchase of Mundoanuncio, made an investment in Edeng and signed major partnership agreements to run classifieds for third parties such as Friendster,” said Fabrice Grinda, founder and CEO of OLX. “This new investment will enable us to continue to grow rapidly through a combination of site improvements, continued global deployments, new acquisitions and more aggressive marketing.”
OLX is an internet company based in New York, NY and Buenos Aires, Argentina with over 125 employees in New York, Buenos Aires, Beijing, Delhi and Moscow. The OLX website hosts free user-generated classified advertisements for urban communities around the world and provides discussion forums sorted by various topics. OLX is available in 87 countries and 39 languages.
For more information, please visit www.olx.com