How Much Did CarDekho Raise? Funding & Key Investors

CarDekho has successfully raised funds through 10 rounds, with the most recent being a Series E round led by LeapFrog Investments. The platform is backed by 23 investors, including Changer Club and Harbor Spring Capital.

Keep reading to explore the intricacies of CarDekho's fundraising journey and the investors backing this innovative automotive portal.

What Is CarDekho?

CarDekho, an automotive portal based in Gurgaon, Haryana, India, specializes in providing information on new and used cars, car prices, and facilitating vehicle transactions. The company operates within the automotive, e-commerce, and information technology industries.

Founded by Girnar Software Pvt. Ltd., CarDekho has grown to employ between 1001-5000 people. The platform offers a comprehensive range of services, including car comparisons, dealer locators, and car insurance, making it a leading player in the Indian automotive market.

How Much Funding Has CarDekho Raised?

1. Series A
   • Amount Raised: USD 15,000,000
   • Date: November 2013
   • Lead Investors: Peak XV Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's capabilities and market reach.
2. Series B
   • Amount Raised: USD 50,000,000
   • Date: January 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance technological infrastructure.
3. Series Unknown
   • Amount Raised: Not publicly disclosed
   • Date: May 2015
   • Lead Investors: HDFC Bank
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To strengthen financial services and partnerships.
4. Series Unknown
   • Amount Raised: Not publicly disclosed
   • Date: March 2016
   • Lead Investors: CapitalG
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support market expansion and product development.
5. Series B
   • Amount Raised: USD 2,500,000
   • Date: March 2018
   • Lead Investors: Peak XV Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance user experience and expand service offerings.
6. Debt Financing
   • Amount Raised: INR 250,000,000
   • Date: July 2018
   • Lead Investors: Trifecta Capital Advisors
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support operational scaling and financial stability.
7. Series C
   • Amount Raised: USD 110,000,000
   • Date: January 2019
   • Lead Investors: CapitalG, Hillhouse Investment, Peak XV Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and expand into new markets.
8. Series D
   • Amount Raised: USD 70,000,000
   • Date: December 2019
   • Lead Investors: Ping An Global Voyager
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance technological capabilities and market presence.
9. Debt Financing
   • Amount Raised: USD 50,000,000
   • Date: October 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support financial stability and operational growth.
10. Series E
    • Amount Raised: USD 200,000,000
    • Date: October 2021
    • Lead Investors: LeapFrog Investments
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To expand market reach and enhance service offerings.

Total Amount Raised: USD 497,500,000. Current Valuation: Not publicly disclosed.

Key Investors

• LeapFrog Investments
  • Details: LeapFrog Investments is a private equity firm that focuses on high-growth companies in emerging markets. They are known for their impact investing approach, aiming to generate both financial returns and social impact.
  • Investment Focus Areas: Financial services, healthcare, technology.
  • Notable Investments: WorldRemit, BIMA, Goodlife Pharmacy.
• Ping An Global Voyager
  • Details: Ping An Global Voyager is the venture capital arm of Ping An Insurance, one of the largest financial services companies in China. They invest in fintech and healthtech companies globally.
  • Investment Focus Areas: Fintech, healthtech, artificial intelligence.
  • Notable Investments: Lufax, OneConnect, iCarbonX.
• CapitalG
  • Details: CapitalG is the growth equity investment arm of Alphabet Inc. They focus on late-stage technology companies with the potential for significant growth.
  • Investment Focus Areas: Technology, software, internet services.
  • Notable Investments: Airbnb, Stripe, Lyft.
• Hillhouse Investment
  • Details: Hillhouse Investment is a global private equity firm that invests in companies across various sectors, including consumer, healthcare, and technology. They are known for their long-term investment approach.
  • Investment Focus Areas: Consumer, healthcare, technology.
  • Notable Investments: JD.com, Baidu, Tencent.
• Peak XV Partners
  • Details: Peak XV Partners, formerly known as Sequoia Capital India, is a venture capital firm that invests in early and growth-stage companies in India and Southeast Asia. They are part of the global Sequoia Capital network.
  • Investment Focus Areas: Technology, consumer, healthcare.
  • Notable Investments: Byju's, OYO, Zomato.

What's Next for CarDekho?

CarDekho's future looks promising as it continues to expand its footprint in Southeast Asia. The company is poised to capitalize on the growing demand for used car financing and classifieds, particularly in markets like Indonesia and the Philippines. With over 200,000 disbursements and a gross merchandise value surpassing $1 billion, the opportunities for growth are substantial.

To support this expansion, CarDekho may seek additional funding rounds, leveraging its strong market presence and partnerships with over 50 financiers and 20,000 dealers. This financial backing will be crucial for enhancing their B2B2C model and developing complementary services such as auto insurance and electric vehicle financing.

However, CarDekho will need to navigate challenges such as intense competition in the used car financing market and diverse regulatory environments across Southeast Asia. Maintaining growth momentum and integrating new services will be key to their continued success.

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