Cars24 set to raise $350 Mn at nearly $1.8 Bn valuation

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Cars24 in final negotiations to close a $300-350 Mn funding round led by existing backer Yuri Milner’s DST Global, along with participation of of new investors like Falcon Edge, Carlyle Group and SoftBank Vision Fund, multiple people aware of the matter said.

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Since the coronavirus outbreak, Cars24 and other online platforms in the used car business have seen a significant upswing. Cars24 has seen wider demand for used vehicles. It has been planning to offer new services like sale of two-wheelers and also provide aftersales services.

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