Total amount raised
$1.29B
Latest funding date
2024-07-27
Location
CARS24 has raised funding across multiple rounds from over 37 investors, including Global Car Group, Alpha Wave Global, SoftBank Vision Fund, DST Global, Alibaba Group, Tencent, and Exor Seeds.
Keep reading to explore CARS24's full fundraising journey, key investors, and what's next for the company.
CARS24 has raised funding across multiple rounds from over 37 investors, including Global Car Group, Alpha Wave Global, SoftBank Vision Fund, DST Global, Alibaba Group, Tencent, and Exor Seeds.
Keep reading to explore CARS24's full fundraising journey, key investors, and what's next for the company.
What Is CARS24?
CARS24 is an Indian multinational online used-car marketplace headquartered in Gurugram, India. Founded in 2015 by Vikram Chopra, Mehul Agrawal, Ruchit Agarwal, and Gajendra Jangid, CARS24 operates a technology-driven platform that simplifies buying, selling, and financing pre-owned vehicles. The company serves customers in India, the UAE, and Australia, and is also registered as an RBI-regulated NBFC for vehicle financing. CARS24 has grown into one of India's most prominent AutoTech companies, with a valuation of approximately $3.3 billion at its last disclosed equity round.
How Much Funding Has CARS24 Raised?
- Series A
- Amount Raised: USD 14,800,000
- Date: November 2015
- Lead Investors: Kingsway Capital
- Participants: 500 Global, Asia Venture Group, Venture Highway, DST Global, Pitango, AmpVentures
- Series B
- Amount Raised: USD 27,200,000
- Date: August 2017
- Lead Investors: KCK Global Limited
- Participants: Kingsway Capital, DST Global
- Series C
- Amount Raised: USD 50,000,000
- Date: March–October 2018
- Lead Investors: KCK Global Limited, Peak XV Partners (Sequoia Capital India)
- Participants: Kingsway Capital, Exor Seeds, Venture Highway
- Series D
- Amount Raised: USD 100,000,000
- Date: August–October 2019
- Lead Investors: Unbound, KCK Global Limited
- Participants: DST Global, Exor Seeds, Peak XV Partners (Sequoia Capital India), Moore Strategic Ventures, Kingsway Capital, Mahendra Singh Dhoni
- Corporate Round
- Amount Raised: USD 44,000,000
- Date: November 2019
- Lead Investors: Global Car Group
- Debt Financing
- Amount Raised: USD 1,340,000
- Date: July 2020
- Investors: Vivriti Capital
- Series E
- Amount Raised: USD 200,000,000
- Date: November 2020
- Lead Investors: DST Global
- Participants: Exor Seeds, Moore Strategic Ventures, Unbound, Peak XV Partners
- Venture Debt
- Amount Raised: USD 13,400,000
- Date: June 2021
- Investors: Trifecta Capital
- Series F
- Amount Raised: USD 340,000,000
- Date: September 2021
- Lead Investors: DST Global, Alpha Wave Global, SoftBank Vision Fund 2
- Participants: Tencent, Exor Seeds, Moore Strategic Ventures
- Debt Financing
- Amount Raised: USD 110,000,000
- Date: September 2021
- Investors: Undisclosed
- Debt Financing
- Amount Raised: USD 20,000,000
- Date: November 2021
- Investors: Commercial Bank of Dubai
- Series G
- Amount Raised: USD 300,000,000 (equity; plus USD 100,000,000 in concurrent debt — total round: USD 400,000,000)
- Date: December 2021
- Lead Investors: Alpha Wave Global
- Participants: DST Global, SoftBank Vision Fund 2, Alibaba Group, Tencent, Exor Seeds, Moore Strategic Ventures, Raptor Group
- Corporate Round
- Amount Raised: USD 29,800,000 (INR 250 crore)
- Date: July 2024
- Lead Investors: Global Car Group
- Corporate Round
- Amount Raised: USD 40,000,000 (INR 345.2 crore)
- Date: August 2025
- Lead Investors: Global Car Group
Total Amount Raised: At least $1.29B based on disclosed funding (across all rounds including debt and corporate infusions).
Key Investors
- Global Car Group
- Details: The Singapore-based parent entity of CARS24, Global Car Group is the most frequent investor, having led multiple corporate funding rounds including the November 2019 ($44M), July 2024 ($29.8M), and August 2025 ($40M) rounds.
- Alpha Wave Global
- Details: Abu Dhabi-based asset manager (formerly Falcon Edge Capital) that led the Series G round ($300M equity, December 2021) and co-led the Series F ($340M, September 2021), cementing its position as one of CARS24's most significant institutional backers.
- SoftBank Vision Fund 2
- Details: Participated in the Series F and Series G rounds, contributing to CARS24's growth into a $3.3 billion valuation.
- DST Global
- Details: A prominent technology-focused fund that led the Series E round ($200M, November 2020) — the round that made CARS24 a unicorn — and co-led the Series F. DST Global has participated in multiple rounds.
- Alibaba Group
- Details: The Chinese technology giant participated in the Series G round (December 2021), joining as an investor in CARS24's largest disclosed funding round.
- KCK Global Limited
- Details: Early institutional backer that led the Series B and co-led the Series C and Series D rounds, helping CARS24 scale from its early years through its growth stage.
- Peak XV Partners (formerly Sequoia Capital India)
- Details: Co-led the Series C alongside KCK Global and continued to participate in later rounds, backing CARS24 across multiple stages of growth.
What's Next for CARS24?
With significant funding backing and a valuation of approximately $3.3 billion, CARS24 is well-positioned to expand its footprint in India and internationally. The company continues to invest in technology, expand its used-car marketplace, and scale financial services under its NBFC license. CARS24 has also expressed ambitions to go public, with its CEO indicating plans for an IPO within the next 6–12 months as of early 2026.
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