CarTrade Tech to deploy USD 100 mn for strategic acquisitions in automotive space

CarTrade Tech plans to deploy up to USD 100 mn (Rs 750 crore) to strategically acquire and invest into companies in the automotive space. The group wants to strengthen its position as a leading automotive platform in India by acquiring and investing in companies which will help it to either enter a new market / segment or bring new products and technologies to existing customers.

The group is actively looking to acquire and invest in companies that are driving innovation in all aspects of the automobile ecosystem which include auto finance, leasing, insurance, servicing, car ownership, electric vehicles and new age tech to digitize the auto buying and selling journey. In addition to capital, CarTrade Tech will bring unique value to these companies through synergies with group companies, and access to customers and technology, thereby helping these companies scale rapidly.

CarTrade Tech over the last few years has successfully acquired and integrated CarWale - a leader in the online new and used car space, Shriram Automall (SAMIL) - a leader in the auto auction space, BikeWale - a leader in the 2 wheeler online space and Adroit Auto - a leader in auto inspections and valuations.

Powered by Capital Market - Live News