#Asia Temasek, March Capital lead US$145M funding in India’s CarTrade


The auto classified portal recently acquired smaller rival CarWale for about US$80-90 million

Car fleet

India’s online auto classifieds platform CarTrade has raised INR 950 crore (US$145 million), co-led by Singapore-based investment firm Temasek Holdings and global VC fund March Capital.

The sound also saw participation from existing investor Warburg Pincus.

“The funds raised shall be used to further expand our services organically and through acquisitions. We will continue to focus on products, services and strengthening our world-class technology capabilities and platforms to deliver a seamless online experience for auto enthusiasts across the country,” said Founder and CEO Vinay Sanghi.

Also Read: Niki recommends you the best local service and fulfills it too

It is speculated that the money could also be used to fund the company’s acquisition of rival CarWale from German media conglomerate Axel Springer, announced in November last year. Though the financial details of the deal were not disclosed, media reported had pegged the deal size at around US$80 million-US$90 million.

Founded in 2009 by Sanghi, CarTrade is an auto classified portal. Together with CarWale, CarTrade has over 32 million visits per month and around 10,000 new and used car dealer partners. The platforms list more than 225,000 used cars for sale and auctions over 250,000 vehicles to the wholesale market every year.

Last year, CarTrade had raised US$30 million from Warburg Pincus, Canaan Partners and Tiger Global. JP Morgan and Epiphany Ventures are also investors in CarTrade.

The post Temasek, March Capital lead US$145M funding in India’s CarTrade appeared first on e27.

from e27 http://ift.tt/1PaQIaC

Ce contenu a été publié dans #Asia par Startup365. Mettez-le en favori avec son permalien.

A propos Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !