Cardekho bags $50 million in Series B funding led by Hillhouse Capital

cardekho

Auto classifieds portal CarDekho  has raised US$50 million in a funding round led by Hillhouse, Tybourne and Sequoia.

“We will use the funds for brand building and marketing, besides innovating on the mobile app front. We will also look at acquiring startups to enhance our technology platform. Our vision is also to be a company with a global footprint through our innovative products and services,” said Amit Jain, co-founder, Girnar Software.

“Our revenues have grown three-fold since 2013 when we received our first round of funding from Sequoia, and we are doubling our lead generation Y-O-Y. The funding adds to our fast-paced growth,” he added.

The company is valued at $300 million post this round of funding.

CarDekho.com was founded by siblings Amit and Anurag Jain around seven years ago. CarDekho is Indian online marketplaces for buyers and sellers of new and used vehicles. The portal also has car news, photos, video galleries, vehicle specification and so on.

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