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Kul Bhushan · · 1 min readReport: Indian used-car marketplace to raise up to $250m in new funding
“India’s Cars24 is in talks with Yuri Milner’s DST Global and other investors for a funding round that could double the used-vehicle site’s value to $2 billion,” Bloomberg reports, citing a person familiar with discussions.
Details:
- Cars24 will reportedly raise US$200 million to US$250 million in its next funding round.
- The company could achieve a valuation of US$1.6 billion to US$2 billion with this fundraise.
Context:
- In November 2020, Cars24 became a unicorn after securing US$200 million in its series E round, which was led by DST Global.
- Earlier this week, the used-car marketplace raised US$13.45 million in a debt round from Trifecta Capital, according to Entrackr.
Editing by Collin Furtado and Eileen C. Ang
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