Friday, November 22

Tag: Cars24 funding

CARS24 raises USD 200 Million, Becomes Unicorn
25Nov By AdityaNo Comments
FUNDING

CARS24 raises USD 200 Million, Becomes Unicorn

New Delhi, Nov 25th, 2020: Online used car marketplace CARS24 raises USD 200 million (around Rs 1,480 crore) in its latest funding round, led by DST global. Other existing investors including Exor Seeds, Moore Strategic Ventures, and Unbound also participated in this round. The latest round of funding raises Cars24 valuation at over USD 1 billion. The funding will be used to invest aggressively in technology and product innovation and scale new business verticals, it added. The company has raised a total funding of USD 400 million till date from investors including Sequoia India and Kingsway Capital. Last year, it had also raised funds from cricketer M S Dhoni. With annual transactions exceeding 2,00,000 units and a 4X increase in website engagement, the company has already ...
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Online Firm Cars24 raises $50 Million For the Purpose of Expansion
18Jul By Gauri SinghNo Comments
FUNDING

Online Firm Cars24 raises $50 Million For the Purpose of Expansion

Online marketplace for the sale and purchase of second-hand cars ‘Cars24’ has raised funds amounting to $50 million (Rs 340 crore). The latest funding round was led by Sequoia Capital. The other existing investors that participated in the funding round were Cayman Islands-based Kingsway FCI Fund and Toronto-based KCK Global. After this round, the market valuation of the company is expected to reach around $250 million. The Gurugram based firm is planning to use these funds for the purpose of boosting up its expansion plans. Cars24 is based on an asset-heavy customer-to-business (C2B) model, in which it purchases used cars from individuals and dealers and sells them to other dealerships. Since its establishment in 2015, the company has sold around 1,00,000 cars. The founders of th...
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