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 ...