Cars24, an India-based online marketplace for used cars, has launched its seven-day car delivery service in Australia.
Photo credit: Cars24
The announcement comes in response to car delivery delays in Australia made worse by the pandemic. Wait times for popular models could last for at least 12 months.
Cars24’s one-week delivery service is now available to customers in Brisbane, Sydney, and metropolitan Melbourne, who can buy a car on the platform in about four minutes. It launched the quick delivery service in Sydney by sending out a refurbished car via helicopter.
Founded in 2015, the startup raised US$400 million in its series G round in December 2021, which consisted of US$300 million in equity and the rest in debt. Its valuation nearly doubled to US$3.3 billion from US$1.8 billion three months earlier.
The ecommerce platform sells used cars in India, the Middle East, Australia, and Southeast Asia. After entering the Thai pre-owned car market in November last year, the company plans to expand to Indonesia in 2022 – where its rivals Carsome and Carro are already active.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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