Self-Description

CARS24 is India's largest and fastest growing used car marketplace. CARS24 is the first and only player in India to bring 'transaction led' approach to solving used car selling resulting in disruption of the 'classifieds' way of selling a car. With CARS24, a car owner can sell their car privately and securely in less than 2 hours and get paid instantly. On the other side of the marketplace, CARS24 has tens of thousands of used car businesses who buy all these cars online via mobile auctions from anywhere in India. CARS24 has become the 'supply' side leader with over 100,000 transactions a year. It buys cars from across 15 cities and sells them across 100 cities in India. The 'supply' leadership via its unique C2B model has helped CARS24 leapfrog the existing c2c and b2c models. Building on its unique advantages, CARS24 intends to dominate the used car ecosystem including areas such as financial services, and information services. CARS24 has raised over $100mm in 3 years since its inception, and has backing of investors such as Sequoia Capital, Apoletto (Yuri Milner's DST partner fund), Kingsway Capital, KCK, and Exor Seed (fund backed by Fiat Family).

Primary Company Info

Headquarters:
Gurgaon, India
Country:
India
Year Founded:
2015
Active Markets:
Domestic

NC Company Overview

CARS24 based in Gurgaon, Haryana, India, is a used car resale business. CARS24 operates on the model of buying any car from its owner, at the guaranteed best price compared with other car resale services. CARS24 aims to offer Indian consumers an alternative to other means of selling a used car, by making the process simple and convenient. CARS24 will offer a price on any car, regardless of make, model, age or condition. Car owners can sell their car with a single visit to a CARS24 branch, and can also get a rough valuation based on the details of their car online. People who sell their cars to CARS24 receive instant payment, and CARS24 also manage any handover of legal documentation relating to vehicle registration at no cost to the seller. CARS24, operating in areas like automotive, e-commerce, retail and used car trade, was able to grow from one office in Delhi when it was founded in 2015, to over 50 locations across ten major Indian cities including Chennai, Pune, Bangalore and Hyderabad within its first three years in business. This earned CARS24 the accolade of being one of the fastest growing companies in India, and a major employer. CARS24 is also ISO 9001:2015 certified.

Edition June 2019

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