Revolutionizing the Auto Industry: CARS24 Secures $29.8 Million in Funding for Innovation and Expansion

CARS24, a pioneering leader in the AutoTech industry dedicated to revolutionizing the sale, purchase, and financing of pre-owned cars, has successfully raised $29.8 million in its latest funding round. This notable infusion of capital will empower CARS24 to further amplify its cutting-edge technological capabilities and expand its operations across its thriving markets in India, Australia, Thailand, and the UAE. At the forefront of innovation, CARS24 employs a Smart AI Pricing Engine that enables sellers to benefit from seamless and transparent transactions, while its extensive dealer network guarantees competitive pricing. The company’s commitment to providing a customer-centric experience is evident in its suite of services – from instant payments and simplified documentation to thorough evaluation processes, ensuring peace of mind for both buyers and sellers. With the addition of 140 Quality Checks at its state-of-the-art Mega Refurbishment Labs (MRL), customers can purchase vehicles that not only come with a comprehensive one-year warranty but also a hassle-free seven-day return policy. To bolster its financing arm, CARS24 Financial Services Private Limited, an NBFC registered with the Reserve Bank of India, will leverage these new funds to develop innovative financial products that cater to the evolving demands of consumers. As CARS24 embarks on this exciting phase of growth, the company remains steadfast in its mission to enhance the entire vehicle transaction journey through groundbreaking technology and expert service. This latest funding round positions CARS24 for even greater success in the AutoTech space, ensuring a bright future for both the company and its dedicated customers.