CarDekho Raises $250 Million, Ranks 31st in Unicorn India 2021
CarDekho is planning to widen their service across India with retail stores that will provide transaction service with customer on purchasing second-hand cars and selling certified pre-owned cars. The company is currently providing services in Indonesia, India and Philippines. The company focuses on utilizing new funds to widen their business internationally.
Amit Jain, CEO and co-founder of CarDekho says, “The new fundraise will help us expand our Used Car transactions and Financial services businesses. The trust and conviction of our investors will help us to accelerate our growth plans”.
CarDekho presently purchases cars from in more than 100 markets and has a catalogue for online purchase listing more than 3,000 certified pre-owned cars. The company will widen their business globally and gears up to enlist 10,000 cars in catalogue in coming future.
LeapFrog will backing the company’s target to supply standard and budget-friendly cars, finance and insurance to new coustomers. The new investors who participated in the new funding round are Mirae Asset, Harbor Spring Capital and Canyon Partners; and existing investors are Sunley House and Sequoia Capital India.
LeapFrog Investment's partner and co-head of South Asian Investment, Stewart Langdon said, “CarDekho is making vehicles more accessible, affordable and trustworthy for over three million emerging consumers”.
In 2021, India added three unicorns per month. According to report by Hurun, India is ranking 3rd across the countries having the most unicorns.