Cars24
Founded Year
2015Stage
Debt - V | AliveTotal Raised
$1.296BValuation
$0000Last Raised
$100M | 3 yrs agoRevenue
$0000Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-15 points in the past 30 days
About Cars24
Cars24 is a leading AutoTech company focused on the sale, purchase, and financing of pre-owned cars. The company offers an online marketplace for buying and selling used cars, complemented by a suite of services including car financing, quality checks, warranties, and seamless documentation for transactions. Cars24 primarily serves the automotive industry with a customer base looking for pre-owned vehicle solutions. It was founded in 2015 and is based in Gurgaon, India.
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Research containing Cars24
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Cars24 in 2 CB Insights research briefs, most recently on Oct 6, 2021.
Expert Collections containing Cars24
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Cars24 is included in 4 Expert Collections, including E-Commerce.
E-Commerce
11,032 items
Companies that sell goods online (B2C), or enable the selling of goods online via tech solutions (B2B).
Unicorns- Billion Dollar Startups
1,244 items
Auto Commerce
700 items
Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.
Tech IPO Pipeline
257 items
The tech companies we think could hit the public markets next, according to CB Insights data.
Latest Cars24 News
Aug 12, 2024
SHARE SUMMARY The startup said one of the features under the super app is ‘Orbit’ – a car management system that gives access to features like real-time car valuation, a dashboard to track PUC, challans, insurance, among others Cofounder Gajendra Jangid said Cars24 is internally gearing up for its IPO but didn’t disclose any time period for it Last month, the startup bagged INR 250 Cr from its Singapore-based parent entity Global Car Group Limited FOLLOW US has launched a super app to consolidate all of its car-related services under a single app. In a statement, the startup said one of the features under the super app is ‘Orbit’ – a car management system that gives users access to features like real-time car valuation, a dashboard to track PUC, challans, insurance,& service history, a vault to store documents, and other services like car scrapping, on-demand driver , maintenance, and more. “Every aspect of ‘Orbit’ is meticulously designed to revolve around your needs, ensuring a seamless journey whether it’s keeping up with your car’s valuation, managing maintenance schedules, or renewing insurance,” the startup’s cofounder Gajendra Jangid said. Cars24 plans to update the app with over 40 services going ahead and aims to also sell first hand cars in the near future. RECOMMENDED FOR yOU 12th August, 2024 Founded in 2015 by Jangid, Vikram Chopra, Ruchit Agarwal, and Mehul Agrawal, Cars24 operates a marketplace to enable car owners to sell, purchase, and finance pre-owned cars in India, Australia, and UAE. It competes with the likes of CarTrade, CarDekho, Spinny, and Droom. The startup unveiled the new app on its ninth birthday and said it is eyeing to become the “world’s largest auto super app”. Pertinent to note that the company bagged INR 250 Cr about two weeks ago from its Singapore-based parent entity Global Car Group Limited. Speaking with reporters, Jangid said that the startup is eyeing a public market debut. “IPO is a milestone and a stepping stone in our journey. We are gearing up for it internally. I am not laying any roadmap for…by when we will go for the IPO. But the progress is being made in that direction,” news agency PTI quoted him as saying. However, the startup continues to be a loss-making entity. As per its last disclosed financial numbers for the financial year 2022-23 (FY23), Cars24’s loss declined 32% to $168.3 Mn from $248 Mn in the previous fiscal year. Revenue stood at $930.3 Mn, up 16% jump from $803.6 Mn in FY22.
Cars24 Frequently Asked Questions (FAQ)
When was Cars24 founded?
Cars24 was founded in 2015.
Where is Cars24's headquarters?
Cars24's headquarters is located at 10th Floor, Tower B, Unitech Cyber Park, Gurgaon.
What is Cars24's latest funding round?
Cars24's latest funding round is Debt - V.
How much did Cars24 raise?
Cars24 raised a total of $1.296B.
Who are the investors of Cars24?
Investors of Cars24 include DST Global, Moore Strategic Ventures, EXOR Seeds, SoftBank, Tencent and 36 more.
Who are Cars24's competitors?
Competitors of Cars24 include Carsome, Cazoo, InstaCarro, Droom, Carmerce and 7 more.
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Compare Cars24 to Competitors
Spinny is a full-stack used car trading platform that specializes in offering high-quality, thoroughly inspected second-hand cars. The company provides a transparent and seamless car buying and selling experience, featuring a rigorous 200-point quality check and a 5-day money-back guarantee for all vehicles. Spinny also offers additional services such as car financing, a one-year comprehensive warranty, and buyback options to enhance customer satisfaction. It was founded in 2015 and is based in Gurugram, India.
CarDekho is a digital automotive solutions provider specializing in the sale and purchase of new and used cars. The company offers a platform for car buyers to search, compare, and make informed decisions on vehicle purchases, as well as facilitating finance and insurance services for used cars. CarDekho primarily serves individual car buyers and sellers, as well as partnering with automotive dealerships, financial institutions, and insurance companies. It was founded in 2008 and is based in Gurugram, India.
VavaCars operates as a technology-enabled used car platform that provides a transparent and hassle-free car-buying experience, leveraging its proprietary pricing and inspection technology to make car ownership accessible and affordable. In addition to buying and selling used cars, VavaCars also offers ancillary services such as servicing and extended warranty, providing customers with a comprehensive and convenient car ownership solution. It was founded in 2019 and is based in Istanbul, Turkey.
Droom specializes in facilitating the buying, selling, and trading of new and used vehicles. Droom offers a suite of services including vehicle inspection, certification, loans, insurance, and other automobile-related services. The company primarily serves the automotive e-commerce industry. It was founded in 2014 and is based in Gurugram, India.
Chehaoduo operates in the used car sales industry, focusing on providing a platform for buying and selling pre-owned vehicles. The company offers services such as official vehicle inspections, a 7-day trial drive with a no-reason return policy, and comprehensive post-sale warranties to ensure customer satisfaction and vehicle reliability. Additionally, Chehaoduo facilitates online car auctions and provides financial services to assist customers in their car purchase. It was founded in 2015 and is based in Beijing, Beijing.
Carro provides an online marketplace for used cars. The company offers aspects of car ownership and uses artificial intelligence (AI) enabled technology for the car ownership lifecycle, including buying, selling, and leasing second-hand cars, all facilitated through an online platform. It primarily serves the automotive industry. It was founded in 2015 and is based in Midview CIty, Singapore.
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