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Cars24 secured $44 million from Parent company

Cars24, which is a platform to buy and sell used cars, has now secured INR 312 crore from the parent company Global Car Group Pvt Ltd, according to the report revealed.

In the month of October, Mahendra Singh Dhoni backed platform Cars24, had secured $100 million in the funding round of Series D equity funding from the DST Global, Partners Fund, and some of the other investors.

Cars24 was founded in the year 2015 by the Mehul Agarwal and Vikram Chopra. It is the platform for buying and selling cars in India, with the revolutionized way of pre-owned cars in India.

Moreover, the company has also declared that it does around 13500 transactions on a monthly basis, with an average value of INR 3.5 lakh. The platform also claims to be doing a transaction of 1.5 lakh cars per year and targeting around 1 million annual transactions by the end of 2021.



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