Gurugram-based new and used cars marketplace CarDekho has raised ₹140 crores as a part of its ₹770 crores Series C round that kicked off in January this year. The startup has raised ₹132.95 crores from SC GC Mobility Holdings along with participation from Hillhouse and Kreatif Media Karya.
According to RoC filings assessed by us, the company has issued 23,497 Series C CCPS shares costing ₹56,585 per share. Till date, the company has raised more than ₹1,400 crores across four funding rounds and is valued at ₹3,500 crores.
It is to be noted that SC GG India Mobility Holdings LLC is located in the Cayman Islands and managed by Jacquie Kush, Sequoia’s overall Controller and Doulas Leone, the global managing partner.
CarDekho is planning to foray into different verticals including an auction model and insurance brokerage. The Series C round will help the startup to focus on the used-car segment and improve the transaction-related services including insurance and business financing.
CarDekho also offers expert reviews and price comparisons on its platform. The startup has partnered with automakers, dealers and financial institutions to facilitate the vehicle purchasing process.
While the partnership contributes 15.30% of the firm’s combined annual sales, more than 5,000 dealers generate 42% of the retail sales. The firm competes with startups like Cartrade, Spinny, and Cars24.
Founded by Amit Jain and Anurag Jain in 2007, the company has reached heights. It recently recorded a 62% growth in revenue to ₹260 crores in FY19. The startup claims to dominate the market with a 65% share and 1.4 million unique visitors every single day. It garnered over ₹8,400 crores in GMV across 3.10 lakh transactions.