CarDekho raises $250 mn; joins unicorn club
The Hindu
Car search platform CarDekho on Wednesday said it has raised $250 million, propelling the Jaipur-based firm into the unicorn club with a valuation of $1.2 billion.The company added that the latest fun
Car search platform CarDekho on Wednesday said it has raised $250 million, propelling the Jaipur-based firm into the unicorn club with a valuation of $1.2 billion.
The company added that the latest funding round included $200 million Series E equity and $50 million debt in its pre-IPO round. The funding round was led by LeapFrog Investments. Other new investors who participated included U.S.-based Canyon Partners, Mirae Asset and Harbor Spring Capital, as well as CarDekho’s existing investors Sequoia Capital India and Sunley House.
“It is the largest ever fundraise by CarDekho and the proceeds will be used to accelerate CarDekho’s growth in the used car transactions, financial services and insurance businesses, build robust product and technology functions, increase brand awareness, and expand into new markets,” it added.
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