The Delhi NCR-based startup turned unicorn in October last year after raising $200 Mn in a Series E funding round led by Leapfrog Investments.
Automobile marketplace CarDekho plans to invest $100 Mn in a mix of debt and equity in its fintech subsidiary Rupyy. The finance arm will use the supposed funding to scale up its non-banking financial company (NBFC) business. The prospective investment will also be deployed to shore up its technology vertical and launch new product categories.
This comes six months after CarDekho announced the setting up of its fintech subsidiary, automobile marketplace.
Commenting on the announcement, CarDekho Group’s chief CEO and cofounder Amit Jain said, “…On the back of best-in-class tech-based solutions and learnings, Rupyy has solved all the challenges that a customer faces while applying for a used car loan. Rupyy is already on a strong growth trajectory and with this infusion, it’s ready to disrupt the entire used car finance business of our country and take it to a whole new level.”
Founded in 2007 by Amit Jain and Anurag Jain, CarDekho is an e-commerce platform for new and used cars. The umbrella group also offers a clutch of auto platforms such as Gaadi.com, ZigWheels.com, BikeDekho.com, and PowerDrift.com.
The Delhi NCR-based startup turned unicorn in October last year after raising $200 Mn in a Series E funding round led by Leapfrog Investments.
