About Mahindra First Choice
Mahindra First Choice is a company based in Mumbai (India) founded in 1994 by Anand Gopal Mahindra. 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 as of April 03, 2024. Mahindra First Choice has completed 1 acquisition, including Carandbike. Mahindra First Choice offers products and services including Used Cars Sales, Car Inspections, Auctions, and Financing. Mahindra First Choice operates in a competitive market with competitors including Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others.
- Headquarter Mumbai, India
- Employees 1069 as on 03 Apr, 2024
- Founders Anand Gopal Mahindra
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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- Legal Name Mahindra First Choice Wheels Limited
- Date of Incorporation 22 Dec, 1994
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$133.84 M (USD)30.14as on Mar 31, 2023
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Net Profit
-$13.29 M (USD)-248.76as on Mar 31, 2023
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EBITDA
-$13.46 M (USD)-293.24as on Mar 31, 2023
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Total Equity Funding
$72.26 M (USD)
in 5 rounds
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Latest Funding Round
$31.74 M (USD), Series C
Apr 25, 2022
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Investors
Mahindra
& 11 more
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Employee Count
1069
as on Apr 03, 2024
- Investments & Acquisitions
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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.
People of Mahindra First Choice
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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.
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.
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Private equity fund focused on multiple sectors
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Venture capital investments are directed toward multiple sectors.
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Diversified operations span automotive, agriculture, and financial services.
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Investor details 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.
Investment portfolio details for Mahindra First Choice
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Online auto portal for buying/selling and new car research
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Complete acquisition details for Mahindra First Choice
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Financial Statements - Mahindra First Choice
Detailed financials for Mahindra First Choice
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Mahindra First Choice Comparisons
Peer comparison for Mahindra First Choice
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Competitors of Mahindra First Choice
Mahindra First Choice operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Retailer of inspected, certified pre-owned vehicles with service and finance options
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Retailer of new automobiles, used vehicles, and related automotive news
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Second-hand cars are listed online to connect buyers and sellers.
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Used vehicles are bought and sold through an AI platform.
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Online marketplace for used cars
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Detailed competitors of Mahindra First Choice
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Latest news on 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 current CEO of Mahindra First Choice.
Mahindra First Choice is a funded company, having raised a total of $72.26M across 5 funding rounds to date.
As of Apr 03, 2024, the latest employee count at Mahindra First Choice is 1,069.
Annual revenue of Mahindra First Choice is $133.84M as on Mar 31, 2023.
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.