Cars24 raises $350 Million at $1.8 Billion Valuation for E-Commerce Industry

Cars24 is the online marketplace for pre-owned cars and bikes. From the one side, the e-commerce platform offers car buyers a big variety of certified cars that can be delivered to home. From another side, sellers are provided with the best price for their vehicles.

The lead investors of the last round were SoftBank, DST Global and Carlyle. Last year the company got the unicorn status when it raised $200 in the round led by DST Global, the company that has already invested in various Indian startups.

Cars24, headquartered in Gurgaon, India, was founded in 2015 by Vikram Chopra, Mehul Agrawal, Ruchit Agarwal and Gajendra Jangid. At that moment the company has more than 1000 employees. The segment of pre-owned cars experiences a rapid growth after the pandemic situation. That is the reason for Cars24 last year increase in sales. Moreover, the company is going to focus on diversification and offer used two-wheeler and after sales service.

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