Cars24 earmarks $100 million to fuel its overseas expansion plans

New Delhi: Cars24, an online marketplace for used cars, has earmarked $100 million (about Rs 738 crore) to fuel its international expansion this year.

The company, which recently entered Australia and the United Arab Emirates, is now ready to launch its used cars business in Southeast Asia and the Middle East. The funds will go towards building the brand in the new territories, ensuring a steady supply of used cars, and setting up a workshop to ensure top quality.