Total amount raised
$367.9 Millions
Latest funding date
Location
CarTrade has successfully raised significant funding through multiple rounds, including a notable Post-IPO Secondary round. The platform offers a comprehensive suite of car-related services, from buying and selling to financing and news updates.
Keep reading to explore the intricacies of CarTrade's fundraising journey and the investors backing this dynamic automotive marketplace.
What Is CarTrade?
CarTrade, founded in 2009 by Rajan Mehra and Vinay Sanghi, is headquartered in Mumbai, Maharashtra, India. The company provides a comprehensive online platform for buying and selling new and used vehicles, facilitating car auctions across more than 80 cities with over 1200 dealers participating.
CarTrade's services extend beyond just transactions; they offer tools for car comparisons, loan applications, and the latest automobile news and expert reviews. This makes it a one-stop destination for all car-related needs in India.
With a workforce of 1001-5000 employees, CarTrade continues to grow, leveraging its extensive network and technological capabilities to serve a diverse customer base across the country.
How Much Funding Has CarTrade Raised?
Series A
- Amount Raised: Not publicly disclosed
- Date: December 2009
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and launch the platform.
Series B
- Amount Raised: Not publicly disclosed
- Date: February 2011
- Lead Investors: Epiphany Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technological capabilities.
Series C
- Amount Raised: ₹597M
- Date: August 2011
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and increase market penetration.
Series D
- Amount Raised: $30.2M
- Date: October 2014
- Lead Investors: Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the dealer network and improve service offerings.
Series E
- Amount Raised: ₹9.5B
- Date: January 2016
- Lead Investors: March Capital, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and support business growth.
Series F
- Amount Raised: $55M
- Date: February 2017
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and strengthen the brand.
Series H
- Amount Raised: ₹3.2B
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and valuation increase.
Venture Round
- Amount Raised: ₹1.8B
- Date: April 2021
- Lead Investors: IIFL Finance, Malabar Investment Advisors
- Valuation at Round: ₹7,100 crore ($967 million)
- Motivation Behind the Round: To generate long-term resources for capital expenditure and business expansion.
Post-IPO Secondary
- Amount Raised: ₹5.1B
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to existing shareholders and support future growth initiatives.
CarTrade has raised a total of $1.2 billion with a current valuation of ₹7,100 crore ($967 million).
Key Investors
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It manages a diversified portfolio across various sectors.
- Investment Focus Areas: Financial services, telecommunications, media, technology, transportation, industrials
- Notable Investments: Alibaba, Airbnb, Ant Financial
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm with a focus on growth investing. It has a long history of backing companies across various stages of development.
- Investment Focus Areas: Consumer, industrial, healthcare, technology, media, financial services
- Notable Investments: Bharti Airtel, Dainik Bhaskar, Kotak Mahindra Bank
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is a global investment management firm. It provides investment and advisory services to a wide range of clients.
- Investment Focus Areas: Equities, fixed income, alternative investments
- Notable Investments: Technology, healthcare, financial services
- March Capital
- Details: March Capital is a venture capital firm that invests in technology-driven companies. It focuses on companies at various stages of growth.
- Investment Focus Areas: Technology, cybersecurity, artificial intelligence
- Notable Investments: CrowdStrike, ASAPP, Forter
- IIFL Finance
- Details: IIFL Finance is a diversified financial services company. It offers a range of services including asset management, wealth management, and investment banking.
- Investment Focus Areas: Financial services, asset management, wealth management
- Notable Investments: Not publicly disclosed
What's Next for CarTrade?
CarTrade is poised for significant growth, with opportunities in expanding its business operations and potentially entering the financing sector. The company is also eyeing an IPO to raise around ₹2,000 crore, which could further solidify its market position.
Future fundraising looks promising, with continued interest from institutional investors like Malabar India Fund and IIFL. However, CarTrade will need to navigate intense competition from other players and manage the risks associated with new business ventures and market volatility.
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