CarDekho, an online retail platform for both new and used vehicles out of India, recently raised around $20 million during a Series C fundraising round that was led primarily SC GG India Mobility Holdings.
According to sources, the portal has issued 23,497 series C compulsory convertible preferences shares (CCPS) at a high premium.
Akansh Sinha, Co-founder of Gaadi.com, part of Girnarsoft, said that the CarDekho Group is expected to double its revenue to about $105 million during the current fiscal from $55 million last year.
CarDekho was founded by Amit Jain and Anurag Jain in 2005. It provides a platform for users to search for used and new cars, along with providing them with detailed reviews to help them choose the right car.
Significantly, in January 2019, CarDekho had announced its Series C fundraise of $110 million from Sequoia India, Hillhouse, CapitalG, and Axis Bank.
Adding on, in June 2019, the CarDekho Group announced its foray into the motor and health insurance sector by launching InsuranceDekho.
The platform claims to have a monthly traffic of 73 million visitors, with 39 million monthly unique visitors.
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