About Mahindra First Choice
Mahindra First Choice is a Transportation, Automotive & Logistics company based in Mumbai (India) founded in 1994 by Anand Gopal Mahindra. Multi-brand used cars are traded via an online marketplace platform. Mahindra First Choice has raised $72.26 million across 5 funding rounds from investors including Mahindra, Cox Automotive and Sanjay Labroo. The company has 1,069 employees. Mahindra First Choice has completed 1 acquisition, including Carandbike. Mahindra First Choice was last valued at $340.12 million in April 2022. Its chief executive, as recorded, is Ashutosh Sudhakar Pandey. Its website mahindrafirstchoice.com draws about 174 thousand monthly visits. Its Indian entity Mahindra First Choice Wheels Limited reported revenue of ₹313 Cr. Mahindra First Choice offers products and services including Used Cars Sales, Car Inspections, Auctions, and Financing. Its focus areas include Consumer, Auto E-Commerce & Content, Second Hand Vehicles and Cars. Its competitors include Spinny, CarDekho and CarWale; 3 of its 3 listed competitors have raised funding.
Company details
Mahindra First Choice was founded in 1994 in Mumbai, India, within the automotive sector. An online platform is operated for multi-brand used cars, where certified vehicles can be searched and booked by buyers. Sellers are enabled to schedule inspections, obtain quotes, and list cars for sale. Non-moving spare parts are liquidated through the digital system for car servicing products, supporting organized transactions in the used vehicle market.
- Headquarters Mumbai, India
- Employees 1,069
- Founders Anand Gopal Mahindra
- Stage Minicorn
- SectorsTransportation, Automotive & Logistics
- Website category Vehicles
- Email••••••••
- Phone•••• ••••
- Website mahindrafirstchoice.com
- Social LinkedIn X Facebook
- Legal Name Mahindra First Choice Wheels Limited
- Date of Incorporation 22 Dec, 1994
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹313 Cr
FY 2025 · -58% YoY
- Net Loss-₹18.80 Cr
FY 2025 · -6% margin
- EBITDA-₹9.19 Cr
FY 2025 · -3% margin
- Total Equity Funding$72.26M (USD)
in 5 rounds
- Latest Funding Round$31.74M (USD), Series C
Apr 2022
- InvestorsMahindra
& 11 more
- Employee Count1,069
- Investments & Acquisitions
Associated legal entities of Mahindra First Choice
Mahindra First Choice operates through Mahindra First Choice Wheels Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Mahindra First Choice Wheels Limited CIN U64200MH1994PLC083996 | Active | 22 Dec 1994 | Mumbai, Maharashtra | ₹313 Cr | 1,069 | 11 | View details |
Products & Services of Mahindra First Choice
Mahindra First Choice offers a comprehensive portfolio of products and services, including Used Cars Sales, Car Inspections, Auctions, and Financing.
Platform for buying certified pre-owned vehicles with inspections.
Expert evaluations ensuring vehicle quality and reliability.
Online and in-person bidding for used cars.
Loans and EMI options for purchasing used vehicles.
Apps and channels of Mahindra First Choice
Mahindra First Choice publishes 1 mobile app with over 5K+ downloads.
Funding Insights of Mahindra First Choice
Mahindra First Choice has successfully raised a total of $72.26M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $31.74 million completed in April 2022. 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 $72.26M
- Total Rounds 5
- Last Round Series C — $31.74M
- First Round $15M
(Mar 2015)
- Investors Count 12
All 5 funding rounds of Mahindra First Choice 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 |
|---|---|---|---|---|---|
| Apr 2022 | $31.74M | Series C | $340.12M | Mahindra | |
| Oct 2021 | $8.11M | Series C | $255.43M | Mahindra | |
| Oct 2020 | $1.89M | Series C | $••••• | – | |
| Feb 2018 | $15.53M | Series C | $••••• | Mahindra | |
| Mar 2015 | $15M | Series B | $••••• | Valiant Mauritius Partners FDI |
| Date | Valuation | Stage |
|---|---|---|
| Apr 2022 | $340.12M | •••••••• |
| Oct 2021 | $255.43M | •••••••• |
| Oct 2020 | $••••• | •••••••• |
| Feb 2018 | $••••• | •••••••• |
| Mar 2015 | $••••• | •••••••• |
Full valuation and stage history of Mahindra First Choice
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Last known valuation $340.12M (Apr 2022). 12 investors in total: 7 institutional and 5 angel.
Investors in Mahindra First Choice
Mahindra First Choice has secured backing from 12 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include Mahindra, Cox Automotive and Sanjay Labroo.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity fund focused on multiple sectors | phicapital.in | Chennai, India | ||
Venture capital investments are directed toward multiple sectors. | Ebene City, Mauritius | |||
Diversified operations span automotive, agriculture, and financial services. | 1945 | mahindra.com | Mumbai, India | |
App that provides an auction-based marketplace for used cars | manheim.com | Atlanta, United States | ||
Cox Automotive is recognized as a leading provider of automotive services. | 1898 | coxautoinc.com | Atlanta, United States | |
Credit brokerage services are facilitated for clients by Valiant Capital. | valiant-capital.com | Houston, United States | ||
SL Sanjay Labroo | unknown_c7697afed22b4a0fb | |||
BK Brijmohan Kataria | unknown_48fbedc7900f415b9 | |||
PV Praveen Venkatraman Loganathan | unknown_52e4c54d4fa74c089 | |||
AU Arun Uppuswamy | unknown_1ce7566394fc44b99 |
Investor details for Mahindra First Choice
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Board of directors of Mahindra First Choice Wheels Limited (Mahindra First Choice)
Mahindra First Choice Wheels Limited is the primary company behind Mahindra First Choice. The board of Mahindra First Choice Wheels Limited currently have 9 directors; the longest-serving is Sanjay Mohan Labroo, appointed in 2000. 39 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Sanjay Mohan Labroo DIN 00009629 | Director | 14 Jan 2000 | 26 yrs 9 mo | Mahindra First Choice Wheels Limited |
| Ramesh Ganesh Iyer DIN 00220759 | Director | 30 Aug 2004 | 22 yrs 2 mo | Mahindra First Choice Wheels Limited |
| Anupam Thareja DIN 01091533 | Director | 16 Jun 2008 | 18 yrs 4 mo | Mahindra First Choice Wheels Limited |
| Rob Huting DIN 07976619 | Director | 30 Jan 2018 | 8 yrs 9 mo | Mahindra First Choice Wheels Limited |
| Amit Kumar Sinha DIN 09127387 | Director | 02 Apr 2021 | 5 yrs 7 mo | Mahindra First Choice Wheels Limited |
| Christopher Robert Hansen DIN 07189662 | Director | 20 Apr 2021 | 5 yrs 6 mo | Mahindra First Choice Wheels Limited |
| Sonu Halan Bhasin DIN 02872234 | Director | 01 Apr 2023 | 3 yrs 7 mo | Mahindra First Choice Wheels Limited |
| Mohammed Turra DIN 08736844 | CEO | 01 Oct 2024 | 2 yrs 1 mo | Mahindra First Choice Wheels Limited |
| Jyotin Kantilal Mehta DIN 00033518 | Director | 18 Sep 2025 | 1 yr 1 mo | Mahindra First Choice Wheels Limited |
People of Mahindra First Choice
53 people are tracked at Mahindra First Choice (15 in leadership, 38 in team); the tracked headcount is 1,069.
| Name | Role | Group |
|---|---|---|
Anand Gopal Mahindra | Founder | Leadership |
Ashutosh Sudhakar Pandey | CEO & MD | Leadership |
Shaaz Hamid Ansari | Head, Growth And New Initiatives | Leadership |
Kamalpreet Singh Chhabra | General Manager | Leadership |
Shivin Tikoo | Chief Human Resources Officer (chro) | Leadership |
Kingshuk Sanyal | Chief Business Officer | Leadership |
Praveen Kumar Gutti | Chief Growth Officer | Leadership |
Mahesh Ghadi | Head Of Sales Operations | Leadership |
Anubhav Deep | Project Head | Leadership |
Sathiyanarayanan Muthukumarasamy | National Head - Channel Development & Activation | Leadership |
Ananthanarayanan S | Head Of Product Management | Leadership |
Jay Rungta | Business Head - Retail | Leadership |
Sunil Nayak | Asst. Vice President - Franchise Operations | Leadership |
Chandra Shekhar Prasad | Chief Data Officer | Leadership |
Prasad Palla | Chief Technology Officer | Leadership |
Ashwin Thangella | Area Manager | Team |
Snehasis Chatterjee | Product Manager (ai & Technical) | Team |
Samir Saurabh | Associate Software Engineer | Team |
Vikas Dhankar | Retail Operations Manager | Team |
Akhilesh Mani Tiwari | Senior Engineering Manager - Android, Ios And Cross Platform Mobile Application Development | Team |
33 more people are available in the full profile.
Complete people profiles for Mahindra First Choice
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Financials of Mahindra First Choice
Figures of Mahindra First Choice Wheels Limited, the primary company behind Mahindra First Choice, for FY 2025. Revenue was ₹313 Cr (-58% year on year). Net loss was -₹18.80 Cr (-6% margin). EBITDA was -₹9.19 Cr (-3% margin). Revenue has grown at a compounded annual rate of -28% over three years and -4% over five years.
- ₹313 CrRevenue · FY 2025 · -58% YoY
- -₹18.80 CrNet loss · -6% margin
- -₹9.19 CrEBITDA · -3% margin
- ₹94.04 CrPaid-up capital
- 1,069Employees (provident fund records)
- -28%Revenue CAGR, 3 years
- -4%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Mahindra First Choice Wheels Limited are on its company page.
Detailed financial statements for Mahindra First Choice
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Investments & Acquisitions by Mahindra First Choice
Mahindra First Choice has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Carandbike.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Online auto portal for buying/selling and new car research | carandbike.com | Delhi, India | 2015 | Jan 2020 | $4.29M |
Complete acquisition details for Mahindra First Choice
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Timeline of Mahindra First Choice
5 dated milestones of Mahindra First Choice across 28 years, from founding to its latest funding, stage changes and deals.
- Founded Mahindra First Choice is founded.
- Funding First funding round of $15.0M.
- Milestone Reaches Minicorn status.
- Acquisition Acquires Carandbike.
- Funding Latest funding round, Series C, of $31.7M.
Competitors of Mahindra First Choice
Mahindra First Choice has 3 listed competitors in our database, 3 of them funded. They include Spinny, CarDekho and CarWale.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| spinny.com | 2015 | Gurugram, India | $741.46M | 5,736 | Retailer of inspected, certified pre-owned vehicles with service and finance options | |
| cardekho.com | 2008 | Jaipur, India | $60M | 2,381 | Retailer of new automobiles, used vehicles, and related automotive news | |
| carwale.com | 2003 | Mumbai, India | $5.89M | 1,150 | Second-hand cars are listed online to connect buyers and sellers. |
Detailed competitors of Mahindra First Choice
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Web traffic of Mahindra First Choice
The website of Mahindra First Choice (mahindrafirstchoice.com) receives about 174.3K visits a month and ranks #214,761 among all websites worldwide, #4,883 in Vehicles.
- Monthly visits174.3K
▲ 1.1% vs previous month
- Unique visitors100.9K
per month
- Global rank#214,761
among all websites
- Category rank#4,883
Vehicles · Vehicles
- Bounce rate44%
- Pages per visit3.3
- Average visit2 min 30 sec
- DevicesDesktop 15% · Mobile 85%
Websites whose visitors overlap most with Mahindra First Choice. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| toyotautrust.in | 100% | 116.6K | #319,083 | View details | |
marutisuzukitruevalue.com | marutisuzukitruevalue.com | 94% | #32,114 | – | |
| spinny.com | 91% | 7.3M | #7,428 | View details | |
| tatamotorsassured.com | 72% | View details | |||
marutitruevalue.com | marutitruevalue.com | 72% | – | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Mahindra First Choice
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Top companies in Automotive Retail & Aftersales
3 companies that operate in the same segment as Mahindra First Choice (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 Mahindra First Choice
Complete news archive for Mahindra First Choice
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Frequently Asked Questions about Mahindra First Choice
Mahindra First Choice was founded in 1994 and raised its 1st funding round 21 years after it was founded.
Mahindra First Choice is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Ashutosh Sudhakar Pandey is the CEO of Mahindra First Choice, as recorded in our data.
Mahindra First Choice is a funded company, having raised a total of $72.26M across 5 funding rounds to date. The company's 1st funding round was a Series B of $15M, raised on Mar 2015.
Mahindra First Choice has 1,069 employees.
The primary company behind Mahindra First Choice, Mahindra First Choice Wheels Limited, reported revenue of ₹313 Cr for FY 2025, down 58% year on year.
Mahindra First Choice was founded in 1994 in Mumbai, India, within the automotive sector. An online platform is operated for multi-brand used cars, where certified vehicles can be searched and booked by buyers. Sellers are enabled to schedule inspections, obtain quotes, and list cars for sale. Non-moving spare parts are liquidated through the digital system for car servicing products, supporting organized transactions in the used vehicle market.
Mahindra First Choice offers Used Cars Sales, Car Inspections, Auctions, and Financing.
Mahindra First Choice has made 1 acquisition, including Carandbike.
Mahindra First Choice has 12 investors. Key investors include Mahindra, Cox Automotive, Sanjay Labroo, Brijmohan Kataria, and Manheim.
The valuation of Mahindra First Choice is $340.12M as of Apr 2022.