CARS24 raises $450 mn, nearly doubles its valuation to $1.84 bn

CARS24, India’s leading e-commerce platform for pre-owned vehicles, has closed a $450 million round of funding, including a $340 million Series F equity round alongside $110 million debt from diversified financial institutions.

The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2 along with participation from Tencent and existing investors Moore Strategic Ventures and Exor Seeds.

With the latest investment, CARS24 plans to expand its global presence as well as further build its cars, bikes and financing business in India, while continuing to invest in technology that delivers the best customer experience possible.