CARS24 A marketplace for Used Cars

Founded by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal, CARS24 is an e-commerce platform focused on buying and selling cars online, designed to make the entire car buying and selling process easier and more efficient. Aiming to be

CARS24 is now a unicorn used car business. The November 24, 2020 fundraising saw the company raise its $200 million in Series A funding to join the Unicorn Club. Led by DST Global, CARS24 had a post-money valuation of $1 billion. CARS24 is currently valued at $3.3 billion.
CARS24 is a state-of-the-art e-commerce platform for used vehicles, including cars and motorcycles, aimed at making it easier to buy and sell cars. The platform offers a wide range of certified vehicles and smooth and convenient delivery options at the touch of a button.

On the other hand, the company also cares about the seller and promises to give the best price for the car within an hour. An AI-enabled pricing system that supports startups allows CARS24 to display accurate market prices and valuations for vehicles.

CARS24 is an ISO 9001:
2015 certified company and he is one of the fastest growing used car market in India. CARS24 was the first company in the used car industry to adopt a “transaction-oriented” approach to car sales. With this portal, potential car owners can easily sell their car privately within 2 hours of her with maximum security and get paid immediately. On the other hand, CARS24 has thousands of used car companies that buy these used cars online from potential car owners across India through mobilehi auctions.

The company is only six years old, but demand from the supply side processing over 100,000 transactions per year has made it a highly desirable company. CARS24 buys all these vehicles in his 15+ cities across the country and sells them to his 100+ cities in India. The company’s proprietary C2B model helped it leapfrog its existing C2C and B2C models.

CARS24 has built this empire on its own assets and now dominates the used car ecosystem, including sectors such as financial services and information services. In addition to online used car trading, CARS24 has over 155 branches in his 35+ cities in India and is also offline for fixed deals.

CARS24 is revolutionizing the used car industry in India, addressing the challenges faced by car owners by providing a fast, easy, hassle-free and premium customer experience.
When the founders scanned the used car industry, they quickly found the industry in complete chaos. There are also many loopholes in the industry that have not been closed since the beginning. There is no one-size-fits-all approach to selling or buying a used car. Additionally, the industry has also lacked the technological advances that would help and ultimately benefit the pricing of used cars.

Another obstacle associated with the used car market is finding access to potential users without encountering confused market participants who do not know the detailed valuation of the car. Therefore, after closely observing market discrepancies, the CARS24 founders decided to develop technology that would help solve these problems and simplify the process of buying and selling used cars online.