Online classified platform Quikr acquired Stepni, Bengaluru based maintenance aggregator that connects vehicle owners with nearby maintenance service providers. The amount of deal remained undisclosed.
Stepni was founded by Vinay Singh and Nikhil Nair in October 2015, having a network of more than 125 service centres across Bengaluru. The Stepni team, including the founders will join QuikrCars.
As identified five key business segments for Quikr growth – automobiles, real estate, jobs, services and customer-to-customer sales, Stepni acquisition will help Quikr to strengthen car-related services under the QuikrCars vertical, as well as lift its services business, QuikrServices. Quikr aims to expand the vehicle maintenance service to other cities in the next three months.
Atul Tewari, head of QuikrCars and chief operating officer at Quikr stated, “At QuikrCars, we believe there is an acute need and a large opportunity for someone to innovate in the auto buying/selling space in India. In new cars, we are working closely with OEMs (original equipment makers) to address their marketing needs, and in used cars we are by far the number one destination for inspected, consumer-owned cars. Stepni’s business model will now allow us to develop a longer-term relationship with car owners as opposed to only at the point of buying-selling.”
“Teaming up with Quikr brings tremendous possibilities for our business model on the demand side and it will help to scale the platform seamlessly across multiple cities,” said Vinay Singh, co-founder, Stepni.
Quikr has been investing aggressively to build the five verticals by both acquiring companies and making strategic investments. Quikr is growing beyond a listing platform to a one-stop shop for used goods by enabling payments on its platform, as well as facilitating logistics. Since the slowdown in external funding is forcing startups to reduce cash burn and find better revenue sources, Quikr is growing in the same direction.
Since last year Quikr has acquired Realty Exchange (IRX), Realtycompass and CommonFloor for enhancing its real estate business. It also acquired beauty services Salosa and Zapluk, and hiring platform Hiree for its jobs vertical.