Cardekho.com

India's top used-car startups line up for IPOs worth over $1 billion

Three Unicorn startups - CARS24 Services Pvt., CarDekho and Spinny - that buy and sell pre-owned vehicles are in early talks with bankers to assess investor appetite

CarDekho Group's net revenue increases 54% to Rs 2,074 crore in FY24

The Group delivered its first full-year standalone profitability, with a profit of approximately Rs 37 crore (before exceptional items), a turnaround from a loss of Rs 143 crore in FY23

CarDekho Group eyeing 40% consolidated growth in FY25, says Amit Jain

Autotech and financial solution provider CarDekho Group is eyeing over 40 per cent consolidated headline growth in FY25 and is on the prowl for value-accretive acquisitions, chief executive and co-founder and Shark Tank India judge Amit Jain has said. Jain who leads CarDekho and is a familiar face on the business reality series Shark Tank India told PTI in an interview that the automobile marketplace (CarDekho) has been profitable for years now and hoped that profitability at a group level would come by in FY25, after which an IPO would follow. Jain described CarDekho as a "growth story with sustainability" and said the Group expects to notch 50 per cent growth (CAGR) in the current fiscal, with businesses like InsuranceDekho (insurtech platform) and Southeast Asia Business aiding growth. The South East Asian market (Indonesia, the Philippines, and Malaysia) is yielding strong numbers, he said, adding that the company is evaluating the Middle East market (UAE and others) as the next

Auto-tech solutions firm CarDekho Group expects 60% growth in 2024

"After maintaining a growth rate of over 60 per cent in the last three years, the Group projects similar favourable growth in the upcoming year," said the company

Auto-tech solution provider CarDekho Group merges Revv with itself

Auto-tech solution provider CarDekho Group on Friday announced the merger of shared mobility platform Revv with itself. This strategic partnership reaffirms the group's commitment to seamlessly integrating technology within the ecosystem, catering to the diverse mobility needs of the consumers, the company said in a statement. With this merger, CarDekho will be a majority shareholder in Revv, which has a diverse fleet of vehicles and a wide network, spanning across India, it said. Launched in August 2015, the Gurugram-based Revv B2C platform offers shared services. Founded by McKinsey alumni Karan Jain and Anupam Agarwal, it offers convenient and flexible mobility solutions, the statement said. "Through strategic integration of technology, we are not just evolving our services but also ensuring more seamless operations. The merger with Revv allows us to offer shared mobility services, addressing the evolving needs of Gen-Z customers," said Amit Jain, co-founder and CEO of CarDekho

CarDekho's FY23 revenue rises 46% to Rs 2,331 cr, Rupyy drives growth

The company said that it has controlled the losses despite maintaining a steady growth whereby it recorded a loss of Rs 562 crore in FY23 against Rs 535 crore in FY22

Expecting topline growth of over 60% during this fiscal, says CarDekho

Auto-tech solutions provider CarDekho on Wednesday said it is expecting a topline growth of over 60 per cent year-on-year this fiscal. The company said it recorded a revenue of Rs 2,331 crore in the previous fiscal, which may see a growth of over 60 per cent by March next year. The company at the core business level has already turned net income positive in the September quarter of FY24, it said. The company had posted a loss of Rs 562 crore in the fiscal year ended March 31, 2023. Last year, the CarDekho group discontinued its used car franchise retail and consumer-to-dealer businesses owing to inviable unit economics and the strategic decision of prudent capital allocation moving towards asset-light business model, the company said. "The group remains a market leader in Autotech and handles transactions worth over USD 2.2 billion (on ARR basis) annualised. It also has a significant cash reserve of over Rs 12,000 million (Rs 1,200 crore) at group level dedicated to growth project

Auto-tech firm CarDekho Group narrows loss to Rs 246 crore in FY22

Auto-tech firm CarDekho Group on Monday said it has narrowed total losses to Rs 246 crore in 2021-22. The group had posted a total loss of Rs 341 crore in FY21, CarDekho said in a statement. The revenue from operations in FY22 increased to Rs 1,598 crore from Rs 884 crore in FY21, it added. The firm -- which enables buying and selling cars and bikes, including electric vehicles, besides providing information and research; insurance broking and financing for cars on its platform -- said it witnessed significant growth across all its business segments in FY22. "The group registered over 50 million unique monthly visitors, generated over 9 million leads, helped issue 16 lakh insurance policies and facilitated disbursal of over 1 lakh auto loans in FY22," it added. CarDekho Group co-founder and CEO Amit Jain said the group has successfully leveraged its house of brands strategy, operating through multiple brands, such as CarDekho, BikeDekho, InsuranceDekho, Rupyy and Zigwheels. "Our

SoftBank-backed Cars24 eyes small towns to sell used cars in India

The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021

IPO-Bound CarDekho to infuse $100 million in its fintech subsidiary Rupyy

Rupyy recently unveiled India's largest QR code-based loan platform, which is available to more than 2,200 vehicle dealerships and distributors nationwide

India online used car sales to reach 8.3 mn units by 2026: Report

India saw three online used car platforms -- Droom, CarDekho and Spinny -- becoming unicorns in 2021 and the used car sales are expected to grow to 8.3 million units by 2026, a report showed

CarDekho opens its first car refurbishment centre at Gurugram

The company said it plans to set up 20 such facilities in the country in near future

CarDekho appoints Mayank Jain as the CEO of its new auto business

Automotive platform CarDekho Group has appointed media industry professional Mayank Jain as the CEO of its new auto business.

Financiers buy into India's used car business amid uptick in demand

An expansion of demand driven by economic uncertainty has accelerated the plans of organised players to tie up with banks and NBFCs

CarDekho launches UPLINK, forays into connected vehicle technology

CarDekho, an auto-tech firm on Monday launched UPLINK, an advanced and compact GPS Vehicle Tracking System.

CarDekho to open 50 offline stores in India within 6 months

CarDekho to open 50 offline stores within 6 months as used car demand rises

These siblings have been riding the global highway with their auto portal

Starting off from a tiny office in Jaipur ten years ago, CarDekho is just a few steps away from earning the unicorn tag

CarDekho closes $70 mn funding round from top investors in China, Europe

CarDekho said it will use the money to strengthen its transaction businesses and expand its international footprint

CarDekho acquires Philippines-based Carmudi to expand to Southeast Asia

The acquisition is aligned with company's business strategy to expand and fortify its footprint across Southeast Asia, CarDekho said in a statement

Auto portal CarDekho goes big on digital

75% of Indian consumers use internet to research before purchasing a car