CARS24 raises $450 million funding

Monday, 20 September 2021Newsdesk

CARS24 on Monday said it has raised $450 million (about Rs 3,321.3 crore) in funding from DST Global, Falcon Edge, SoftBank Vision Fund 2 and others, helping the pre-owned vehicles’ e-commerce platform nearly double its valuation to $1.84 billion.

New Delhi, 20 September 2021

As per news report of The Indian Express, the series F round of funding was a mix of equity ($340 million) and debt ($110 million), a statement said. The equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2 along with participation from Tencent and existing investors, Moore Strategic Ventures and Exor Seeds, it added. The debt funding came from diversified financial institutions.

Source - indianexpress.com