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CarDekho locks in USD 70 Mn in Series D

Dec 6, 2019 by The Passage Team
CarDekho locks in USD 70 Mn in Series D

Alex Suprun/Unsplash

Auto portal CarDekho has raised USD 70 million in a Series D led by Global Voyager Fund. Sunley House Capital Management and existing backers, Sequoia Capital India and Hillhouse Capital also participated in the Financing round.

“With the latest fundraise, we will continue to strengthen our domestic and international businesses and will aggressively work towards becoming the largest personal mobility ecosystem in the country,” Amit Jain, chief executive of CarDekho, said.

The company has tie-ups with many auto manufacturers, more than 4000 car dealers and numerous financial institutions to facilitate the purchase of vehicles.

CarDekho was founded in 2008 by brothers Amit and Anurag Jain. The Jaipur-based company has raised about USD 250 million so far.

Ping An Global Voyager Fund is a Hong Kong-based investor in growth-stage fintech and health-tech companies.

The fund typically invests between USD 15 million and US$50 million in non-control positions in companies where an affiliation with Ping An is likely to create significant mutual value over time. The Fund has invested approximately USD 250 million across Europe, Asia and North America.

“We have been extremely impressed with the business CarDekho has built in India, particularly its success in developing different types of financial services offerings to address car buyers’ needs,” Donald Lacey, managing director Ping An Global Voyager Fund, said.

Ping An is a majority shareholder in Autohome, China’s leading online automobile portal.

CarDekho has expanded to Southeast Asia with the launch of Zigwheels.ph, Zigwheels.my and Oto.com. It also has a presence in the UAE with Zigwheels.ae

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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