India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#211- Valuation
- ₹28,000 Cr
2023 #171 2022 #148 2021 #260
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About Cars24
Cars24 is a Transportation, Automotive & Logistics company based in Gurugram (India) founded in 2015 by Ruchit Agrawal, Gajendra Jangid, Mehul Agrawal, and Vikram Chopra. Provider of online platform for buying, selling and financing used vehicles. Cars24 has raised $1.08 billion across 12 funding rounds from investors including Tencent, CarDekho and Vivriti Capital. The company has 4,585 employees. Cars24 has completed 1 acquisition, including Team-BHP. Cars24 was last valued at $3.23 billion in December 2021. Its chief executive, as recorded, is Vikram Chopra. Its website cars24.com draws about 8.1 million monthly visits. Its focus areas include Consumer, Auto E-Commerce & Content, Second Hand Vehicles and Cars. Its competitors include CarTrade Exchange, CarTrade Tech and Mahindra First Choice; 3 of its 3 listed competitors have raised funding.
Company details
Cars24 was founded in 2015 and is headquartered in Gurugram, India. An online platform is operated in the automotive sector, where used vehicles are listed and sold by owners through inspection appointments, pricing algorithms, and payment processing. Buyers access quality-checked cars with warranty and documentation support. Financing and insurance options are integrated for complete transactions and after-sales services.
Recognitions & Rankings of Cars24
- Headquarters Gurugram, India
- Employees 4,585
- Founders Ruchit Agrawal, Gajendra Jangid, Mehul Agrawal, Vikram Chopra
- Stage Unicorn
- SectorsTransportation, Automotive & Logistics
- Website category Vehicles · Automotive Industry
- Email••••••••
- Phone•••• ••••
- Website cars24.com
- Social LinkedIn X Facebook
Key Metrics
- Annual Revenue$843.44 M (USD)25as on Mar 31, 2024
- Net Profit-$60.21 M (USD)-7as on Mar 31, 2024
- EBITDA-$21.87 M (USD)36as on Mar 31, 2024
- Total Equity Funding$1.08B (USD)
in 12 rounds
- Latest Funding Round$329.1M (USD), Series G
Dec 2021
- InvestorsTencent
& 68 more
- Employee Count4,585
- Investments & Acquisitions
Associated legal entities of Cars24
Cars24 is associated with 3 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Nnc Advisors Llp CIN ABZ-5136 | Active | 19 Dec 2022 | Gurgaon, Haryana | 2 | View details | ||
| Cars24 Financial Services Private Limited CIN U65990HR2018PTC075713 | Active | 17 Sep 2018 | Gurgaon, Haryana | ₹288 Cr | 390 | 5 | View details |
| Cars24 Services Private Limited CIN U74999HR2015FTC056386 | Active | 12 Aug 2015 | Gurugram, Haryana | ₹4,932 Cr | 2,212 | 3 | View details |
Funding Insights of Cars24
Cars24 has successfully raised a total of $1.08B across 12 strategic funding rounds. The most recent funding activity was a Series G round of $329.1 million completed in December 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.08B
- Total Rounds 12
- Last Round Series G — $329.1M
- First Round $14.8M
(Nov 2015)
- Investors Count 69
Latest 10 of 12 funding rounds of Cars24 with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2021 | $329.1M | Series G | $3.23B | Alpha Wave Global | |
| Nov 2021 | $100M | Debt – Conventional | – | – | |
| Sep 2021 | $110M | Debt – Conventional | – | – | – |
| Sep 2021 | $347.7M | Series F | $1.87B | DST Global, Alpha Wave Global | |
| Jun 2021 | $13.45M | Debt – Conventional | – | – | |
| Nov 2020 | $204M | Series E | $••••• | DST Global | |
| Jul 2020 | $1.34M | Debt – Conventional | – | – | |
| Aug 2019 | $100M | Series D | $••••• | KCK FZE, Indian Continent Investment | |
| Oct 2018 | $9.3M | Series C | $••••• | Exor | – |
| Mar 2018 | $50M | Series C | $••••• | KCK Global Limited, Peak XV Partners |
Valuation history
| Date | Valuation | Stage |
|---|---|---|
| Dec 2021 | $3.23B | •••••••• |
| Sep 2021 | $1.87B | •••••••• |
| Nov 2020 | $••••• | •••••••• |
| Aug 2019 | $••••• | •••••••• |
| Oct 2018 | $••••• | •••••••• |
| Mar 2018 | $••••• | •••••••• |
| Aug 2017 | $••••• | •••••••• |
| Nov 2015 | $••••• | •••••••• |
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Full valuation and stage history of Cars24
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Last known valuation $3.23B (Dec 2021). 69 investors in total: 52 institutional and 17 angel.
Investors in Cars24
Cars24 has secured backing from 69 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Tencent, CarDekho and Vivriti Capital.
All
Venture Fund
Institutional
Angel
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm focused on growth-stage companies | alphawaveglobal.com | New York, United States | ||
Venture capital fund focused on multiple sectors | ||||
Private debt and equity funds are managed for technology sectors. | trifectacapital.in | Gurugram, India | ||
Multiple sectors including healthcare are invested in by IFM Investors. | ifminvestors.com | Melbourne, Australia | ||
Venture capital investment firm | dst-global.com | Menlo Park, United States | ||
Investments are focused on agtech, renewable energy, and transportation sectors. | moore-ventures.com | Los Angeles, United States | ||
A private investment firm focused on regional opportunities. | chimerainvestment.com | Abu Dhabi, United Arab Emirates | ||
Acquisition-focused private equity investments are managed by Quad Partners. | quadpartners.com | New York, United States | ||
Venture capital investments in technology and startups. | 2016 | visionfund.com | London, United Kingdom | |
Unbound is focused on building and backing long-term companies. | un-bound.com | London, United Kingdom |
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Investor details for Cars24
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Cars24
The boards of the 3 registered companies of Cars24 currently have 5 directors; the longest-serving is Saurabh Kumar, appointed in 2019. 21 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Saurabh Kumar DIN 07040221 | Director | 08 Feb 2019 | 7 yrs 9 mo | Cars24 Financial Services Private Limited |
| Gajendra Kumar Jangid DIN 08225313 | Director | 09 Dec 2022 | 3 yrs 11 mo | Cars24 Services Private Limited, Cars24 Financial Services Private Limited |
| Ruchit Agarwal DIN 08225312 | Designated Partner | 19 Dec 2022 | 3 yrs 10 mo | Nnc Advisors Llp, Cars24 Services Private Limited, Cars24 Financial Services Private Limited |
| Ratika Bansal DIN 10034411 | Designated Partner | 19 Dec 2022 | 3 yrs 10 mo | Nnc Advisors Llp |
| Shashank Saxena DIN 10236481 | Director | 20 Jun 2024 | 2 yrs 4 mo | Cars24 Financial Services Private Limited |
People of Cars24
317 people are tracked at Cars24 (100 in leadership, 217 in team); the tracked headcount is 4,585.
| Name | Role | Group |
|---|---|---|
Ruchit Agrawal | Co-Founder & CFO | Leadership |
| Co-Founder & CMO | Leadership | |
Mehul Agrawal | Co-Founder & COO | Leadership |
Vikram Chopra | Co-Founder & CEO | Leadership |
Suvodip Dutta | Associate Director | Leadership |
Annupam I. | Head Of Purchase | Leadership |
Pushpdeep Shokeen | Region Head - North | Leadership |
Sameer Parihar | Business Head - Bharatrto | Leadership |
Kishor Bavne | City Head | Leadership |
Arshad Khan | Regional Head | Leadership |
Rajesh U | Associate Director | Leadership |
Kadiiyala Charann Tej | Assistant General Manager - Telangana & AP | Leadership |
Anuj Garg | General Manager Products | Leadership |
Atish Jain | Associate Director | Leadership |
Varun Rustagi [Vr] | Director - Business & Product Head | Leadership |
Mohit Bansal | Associate Director - Product | Leadership |
Niroze Ahmed | Finance Head | Leadership |
Rajat Sharma | Senior General Manager | Leadership |
Shivender Malik | Associate Vice President | Leadership |
Parul Chugh | General Manager | Leadership |
297 more people are available in the full profile.
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Financials of Cars24
Figures of Cars24 Services Private Limited, the primary company behind Cars24, for FY 2026. Revenue was ₹4,932 Cr (-18% year on year). Net loss was -₹441 Cr (-9% margin). EBITDA was -₹331 Cr (-7% margin). Revenue has grown at a compounded annual rate of -2% over three years and +13% over five years.
- ₹4,932 CrRevenue · FY 2026 · -18% YoY
- -₹441 CrNet loss · -9% margin
- -₹331 CrEBITDA · -7% margin
- ₹18.53 CrPaid-up capital
- 2,212Employees (provident fund records)
- -2%Revenue CAGR, 3 years
- +13%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Cars24 Services Private Limited are on its company page.
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Detailed financial statements for Cars24
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Investments & Acquisitions by Cars24
Cars24 has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Team-BHP.
Acquisitions
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Automotive content and user-generated forums for enthusiasts are hosted online. | team-bhp.com | Mumbai, India | 2004 | Apr 2025 | •••• |
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Timeline of Cars24
6 dated milestones of Cars24 across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Cars24 is founded.
- Funding First funding round of $14.8M.
- Milestone Reaches Minicorn status.
- Milestone Reaches Unicorn status.
- Funding Latest funding round, Series G, of $329.1M.
- Acquisition Acquires Team-BHP.
Competitors of Cars24
Cars24 has 3 listed competitors in our database, 3 of them funded. They include CarTrade Exchange, CarTrade Tech and Mahindra First Choice.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| cartradeexchange.com | 2009 | Mumbai, India | $13M | 1,061 | Operator of an online platform for vehicle auctions and listing services | |
| cartradetech.com | 2006 | Mumbai, India | $327.94M | 1,140 | Online marketplace for used cars | |
| mahindrafirstchoice.com | 1994 | Mumbai, India | $72.26M | 634 | Multi-brand used cars are traded via an online marketplace platform. |
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Detailed competitors of Cars24
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Web traffic of Cars24
The website of Cars24 (cars24.com) receives about 8.1M visits a month and ranks #6,671 among all websites worldwide, #97 in Automotive Industry.
- Monthly visits8.1M
▲ 7.9% vs previous month
- Unique visitors3.9M
per month
- Global rank#6,671
among all websites
- Category rank#97
Vehicles · Automotive Industry
Visitor engagement
- Bounce rate34%
- Pages per visit4.5
- Average visit2 min 14 sec
- DevicesDesktop 12% · Mobile 88%
Similar websites
Websites whose visitors overlap most with Cars24. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
carinfo.app | carinfo.app | 100% | #8,576 | – | |
| spinny.com | 96% | 7.3M | #7,428 | View details | |
| cartrade.com | 92% | 1.9M | #30,687 | View details | |
marutisuzukitruevalue.com | marutisuzukitruevalue.com | 88% | #32,114 | – | |
| carwale.com | 85% | 58.3M | #687 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
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Top companies in Automotive Retail & Aftersales
3 companies that operate in the same segment as Cars24 (Automotive Retail & Aftersales) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
General and life insurance products are provided across multiple categories. | 2016 | Bengaluru, Karnataka, India | USD 462.45 M | USD 1.12 B | 4,589 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Retailer of inspected, certified pre-owned vehicles with service and finance options | 2015 | Gurugram, Haryana, India | USD 741.46 M | USD 446.48 M | 5,812 |
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Related news about Cars24
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Frequently Asked Questions about Cars24
Cars24 was founded in 2015.
Cars24 is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Vikram Chopra is the CEO of Cars24, as recorded in our data. They have also founded this company.
Cars24 is a funded company, having raised a total of $1.08B across 12 funding rounds to date. The company's 1st funding round was a Series C of $50M, raised on Nov 2015.
Cars24 has 4,585 employees.
Annual revenue of Cars24 is $843.44M as on Mar 31, 2024.
Cars24 was founded in 2015 and is headquartered in Gurugram, India. An online platform is operated in the automotive sector, where used vehicles are listed and sold by owners through inspection appointments, pricing algorithms, and payment processing. Buyers access quality-checked cars with warranty and documentation support. Financing and insurance options are integrated for complete transactions and after-sales services.
Cars24's top competitors include CarTrade Tech, CarTrade Exchange and Mahindra First Choice.
Cars24 has made 1 acquisition, including Team-BHP.
Cars24 has 69 investors. Key investors include Tencent, CarDekho, Vivriti Capital, SoftBank Group, and Peak XV Partners.
The valuation of Cars24 is $3.23B as of Dec 2021.
Cars24 is associated with 3 legal entities: Nnc Advisors Llp, Cars24 Services Private Limited, Cars24 Financial Services Private Limited.