VCs Bet on Cars24

Posted on 09/23/2021

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Active in more than 200 cities in India, Cars24 is a used-car marketplace. Cars24 raised US$ 340 million in Series F equity funding. DST Global, Falcon Edge, and SoftBank Vision Fund 2 co-led the Series F round, and were joined by insiders Moore Strategic Ventures and Exor Seeds. The round also included US$ 110 million in debt financing. The debt round came from a mix of financial institutions. The investment values Cars24 at US$ 1.84 billion post-money.

SoftBank Group Corporation through its vehicles has invested in a number of online used-car vendors that includes China’s Chehaoduo, Mexico’s Kavak, and Southeast Asia-based Carro.