# CARS24 Services Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cars24-services-private

- Industry: Internet
- Headquarters: Gurgaon, India
- Website: www.cars24.com
- Total disclosed funding: $1B
- Latest round: Series G (Dec 20, 2021)
- Investors on record: 23

## About

CARS24 is an innovative platform based in Gurgaon, India, specializing in the efficient buying and selling of used cars, streamlining the marketplace for consumers and dealers alike.CARS24 was founded in 2015 in Gurgaon, India, to provide a comprehensive solution for the used car market. The company was established by Gajendra Jangid, Mehul Agrawal, and Ruchit Agarwal, with Abhijeet Dabas and Abhinav Gupta serving as CEO. Recently, in July 2024, CARS24 raised INR 2.5 billion from Global Car Group Pte. Ltd., bringing the total amount raised to INR 2.5 billion across multiple funding rounds. The company has successfully completed 16 deals to date.CARS24 operates as a leading platform in India for buying and selling used cars, offering an online process for vehicle purchases, extensive vehicle inspections, and market valuation services for sellers. The platform also provides financing options, including used car loans, personal loans, and loans against cars, catering to individual buyers, sellers, and dealerships primarily in metropolitan regions like Delhi NCR, Bangalore, Mumbai, and Hyderabad. Their services enhance transparency in pricing, enable quick transactions, and ensure thorough vehicle history checks.In the most recent fiscal year of 2023, CARS24 reported a revenue of INR 689,648,249.4, while the EBITDA amounted to INR -40,751,290.7, indicating operational challenges despite its revenue generation capabilities.As of July 2024, CARS24 plans to utilize the recently raised INR 2.5 billion to enhance its product offerings and expand its market reach. There are upcoming products in development designed to improve user experience in the used car transaction process. The company is also targeting expansion into new geographic markets to increase its footprint and customer base, although specific regions have not yet been disclosed.

## Funding rounds

- Series G, Dec 20, 2021, $300M — Tencent Investment, DST Global, Raptor Capital Management, Alpha Wave Global, Alibaba Group, SB Investment Advisers, Exor Seeds, Moore Strategic Ventures
- Series F, Sep 10, 2021, $342M — Tencent Investment, DST Global, Alpha Wave Global, Bloombergsen, SB Investment Advisers, Exor Seeds, Moore Strategic Ventures
- Series E, Feb 22, 2021, $204M — Bharti Group, DST Global, Bloombergsen, Focus IP, Inc., Exor Seeds, Moore Strategic Ventures, Unbound
- Series D, Oct 21, 2019, $97M — Hong Shan, Bharti Group, Bloombergsen, Focus IP, Inc., KCK Global Limited, Exor Seeds, Kingsway Capital, Moore Strategic Ventures, Euler Capital
- Series C, Oct 11, 2018, $50M — Hong Shan, KCK Global Limited, Exor Seeds, Euler Capital
- Series B, Mar 16, 2018, $35M — Apoletto, KCK Global Limited, Kingsway Capital
- Series A, Mar 3, 2016, $15M — AMP Ventures, 500 Global, Asia Venture Group, VH Capital, Apoletto, Vendebita Trading Ltd., Regent Street Partners, Kingsway Capital

## Investors

- AMP Ventures (https://capitalatlas.ai/funds/amp-ventures) — Series A
- 500 Global (https://capitalatlas.ai/funds/500-global) — Series A
- Asia Venture Group — Series A
- VH Capital — Series A
- Apoletto — Series A, Series B
- Vendebita Trading Ltd. — Series A
- Regent Street Partners — Series A
- Kingsway Capital (https://capitalatlas.ai/funds/kingsway-capital) — Series A, Series B, Series D
- KCK Global Limited — Series B, Series C, Series D
- Hong Shan — Series C, Series D
- Exor Seeds — Series C, Series D, Series E, Series F, Series G
- Euler Capital — Series C, Series D
- Bharti Group — Series D, Series E
- Bloombergsen — Series D, Series E, Series F
- Focus IP, Inc. — Series D, Series E
- Moore Strategic Ventures (https://capitalatlas.ai/funds/moore-strategic-ventures) — Series D, Series E, Series F, Series G
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series E, Series F, Series G
- Unbound (https://capitalatlas.ai/funds/unbound) — Series E
- Tencent Investment — Series F, Series G
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series F, Series G
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series F, Series G
- Raptor Capital Management (https://capitalatlas.ai/funds/raptor-capital-management) — Series G
- Alibaba Group — Series G