Home >Companies >CarTrade.com raises Rs185 crore
CarTrade.com provides a platform for buying and selling new and used vehicles.
CarTrade.com provides a platform for buying and selling new and used vehicles.

CarTrade.com raises Rs185 crore

The funds will be used to expand services, offer consumers and dealers a better online experience, says Vinay Sanghi, founder and CEO

Mumbai: CarTrade.com, an online auto classifieds platform, on Monday said it has raised 185 crore in a funding round led by an affiliate of private equity firm Warburg Pincus Llc, with participation from existing investors Canaan Partners and Tiger Global Management Llc.

CarTrade.com provides a platform for buying and selling new and used vehicles. In the used car catergory, over 100,000 cars are listed, along with price information and car certification.

“The funds raised shall be employed to further expand our services to help us offer our consumers and dealers a seamless online experience. We also plan to focus significantly on the mobile space and provide products and services, which will be best-in-class and in many cases the first of its kind," said Vinay Sanghi, founder and chief executive officer of CarTrade.com.

“We see tremendous potential in the Indian automobile market. CarTrade is one of the most innovative platforms in the online auto sector, and has shown strong growth momentum in the last couple of years," says Nitin Nayar, managing director of Warburg Pincus India Pvt. Ltd.

Warburg Pincus has an active portfolio of over 125 companies, with over $39 billion in assets under management.

Warburg Pincus has an active portfolio of over 125 companies, with over $39 billion in assets under management.

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