Cars24 raises $450Mn at a $1.84Bn valuation
By MYBRANDBOOK
Gurugram based e-commerce platform for pre-owned vehicles Cars24 has raised $450 million in a funding round conducted by DST Global, Falcon Edge Capital and new investor SoftBank Vision Fund. The deal includes $110 million debt, valued Cars24 at $1.84 billion, escalating to a billion dollars in November last year.
"Traditionally, car selling or buying has been a tiresome process, and only two of 100 people own cars in India. However, over the last six years, we have been working continuously towards fulfilling the dreams of many Indians to own a car by transforming the customer's journey- 'the CARS24 way' that is hassle-free, safe and transparent," Vikram Chopra, co-founder and CEO of Cars24 said.
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