Online used cars marketplace Cars24 nears $250 million deal with DST

India’s Cars24 is in talks with Yuri Milner’s DST Global and other investors for a funding round that could double the used-vehicle site’s value to $2 billion, a person familiar with the discussions said.

India’s biggest online marketplace for pre-owned cars is set to raise $200 million to $250 million from existing backers including DST, which may lead the round, said the person, who asked not to be named discussing a private deal.