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CARS24 valuation soars to $1.8 billion after raising $450 million

Fundraise includes Series F equity round of $340 mn, debt of $110 mn

Cars24, car, reuse, resale
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Last November, CARS24 raised $200 million in a series E funding round, which valued it at over $1 billion and made it the first unicorn in India’s auto space.

Arindam Majudmer New Delhi
India’s largest online marketplace for used cars, CARS24 Services, has closed a $450 million funding round that has almost doubled its valuation to $1.84 billion.
 
The funding includes a $340 million Series F equity round, coupled with $110 million debt from multiple financial institutions.
 
This is the biggest round for the six-year-old start-up, which also saw participation from Tencent and existing investors such as Moore Strategic Vent­ures and Exor Seeds. Existing investors like Yuri Milner’s DST Global and the US’s Fal­con Edge also invested.
 
Last November, CARS24 raised $200 million in a series E funding round, which

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First Published: Sep 20 2021 | 11:03 PM IST

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