Total amount raised
$367.9 Million
Latest funding date
6/1/2024
Location
CarTrade has successfully raised funding over 9 rounds, with the latest being a Post-IPO Secondary round. The company is backed by 13 investors, including prominent names like Goldman Sachs Asset Management and Societe Generale.
Keep reading to explore the intricacies of CarTrade's fundraising journey and the investors backing this innovative platform.
What Is CarTrade?
CarTrade is a leading online automotive marketplace in India, catering to both new and used car buyers and sellers. Headquartered in Mumbai, Maharashtra, the company operates in the industries of Auctions, Automotive, E-Commerce, and Marketplace.
With an employee count ranging between 1001-5000, CarTrade has established itself as a significant player in the automotive market. The platform offers a comprehensive range of services, including car comparisons, EMI calculations, and car loan applications, making it a one-stop solution for car-related needs.
How Much Funding Has CarTrade Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: December 2009
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong market presence and develop the platform.
- Series B
- Amount Raised: Not publicly disclosed
- Date: February 2011
- Lead Investors: Epiphany Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technological capabilities.
- Series Unknown
- Amount Raised: INR 597,000,000
- Date: August 2011
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and increase market penetration.
- Series D
- Amount Raised: USD 30,200,000
- Date: October 2014
- Lead Investors: Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and strategic acquisitions.
- Series E
- Amount Raised: INR 9,500,000,000
- Date: January 2016
- Lead Investors: March Capital, Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance service offerings.
- Series F
- Amount Raised: USD 55,000,000
- Date: February 2017
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel further growth and technological advancements.
- Series H
- Amount Raised: INR 3,210,000,000
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: INR 3,930,300,000
- Motivation Behind the Round: To support business growth and expansion.
- Series Unknown
- Amount Raised: INR 1,840,000,000
- Date: April 2021
- Lead Investors: IIFL Finance, Malabar Investment Advisors
- Valuation at Round: INR 7,100,000,000
- Motivation Behind the Round: To generate long-term resources for capital expenditure and business expansion.
- Post-IPO Secondary
- Amount Raised: INR 5,350,000,000
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing business operations and strategic initiatives.
Total Amount Raised: USD 1,000,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is a leading global investment manager, providing investment and advisory services to institutional and individual clients. They participated in CarTrade's Post-IPO Secondary funding round.
- Investment Focus Areas: Not specified
- Notable Investments: Not specified
- Societe Generale
- Details: Societe Generale is a French multinational investment bank and financial services company. They were involved in CarTrade's Post-IPO Secondary funding round.
- Investment Focus Areas: Not specified
- Notable Investments: Not specified
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They have a significant stake in CarTrade, participating in multiple funding rounds.
- Investment Focus Areas: Financial services, telecommunications, media, technology, transportation, industrials
- Notable Investments: Not specified
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm with a focus on growth investments. They have a substantial stake in CarTrade through Highdell Investments.
- Investment Focus Areas: Technology, healthcare, consumer, industrial, financial services
- Notable Investments: Not specified
- March Capital Partners
- Details: March Capital Partners is a venture capital firm that invests in technology and innovation-driven companies. They participated in CarTrade's Series H round.
- Investment Focus Areas: Technology, innovation
- Notable Investments: Not specified
What's Next for CarTrade?
CarTrade is poised for significant growth, with opportunities in auctioning cars, tractors, trucks, and farm equipment for dealers from banks, NBFCs, and insurance companies. The potential foray into the financing business and lead generation for new cars further expands its market reach.
Future fundraising opportunities are promising, with plans for an IPO to raise around Rs 2,000 crore. This move could push CarTrade's valuation past the $1 billion mark, solidifying its position in the market.
However, challenges such as competition from CarDekho, OLX, and Cars24, and the need to maintain market share amidst evolving dynamics, could pose hurdles. Strategic acquisitions and partnerships will be crucial for navigating these challenges and sustaining growth.
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