The company will be using these new funds to grow into new markets and develop new services for their platform. The company has been expanding more and more throughout India and pushing into bike-sharing as well.
Ola did not respond to an e-mailed query on the development. A Hyundai Motors India spokesperson said the company is "open to cooperation with various potential partners but it is our policy not to comment on market speculation and rumours".
“Not just from a transaction, but also an experience point of view. CARS24 enables car owners to sell their cars within two hours of a single visit to one of the many CARS24 branches, with instant payment into their bank accounts and also takes complete responsibility of all the paperwork including RC transfer,” the company says in a statement.
The agency has also unveiled its new campaign titled “Chalao Apni”, with a renewed positioning that focuses on the car buying experience of the customer. Created by Leo Burnett, the campaign goes live soon.