CARS24 is India’s leading e-commerce platform for pre-owned vehicles, has closed a $450 million round of funding, including a $340 million Series F equity round alongside $110 million debt from diversified financial institutions.
DST Global led the Series F equity round, Falcon Edge and SoftBank Vision Fund 2, and Tencent and existing investors Moore Strategic Ventures and Exor Seeds. With the latest investment, CARS24 plans to expand its global presence and further build its cars, bikes and financing business in India while investing in technology that delivers the best customer experience possible.
Speaking on the development, Vikram Chopra, Co-founder & CEO, CARS24, said: “With this investment, we will continue to penetrate existing car, bikes and financing business in India while venturing into new overseas geographies this year.”
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This funding comes just months after CARS24’s expansion into the UAE and Australian markets.
