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CARS24 valuation, funding and investors

cars24.com ↗LinkedIn ↗

CARS24 works in used and new car retail, based in Gurgaon, India. Founded in 2015, it has about 10,300 employees.

Automobile Dealers & Manufacturers Debt
VALUATION · TODAY
$1.37B −0% after Series E
Range $119M – $1.67B · Grade D
TODAY
+12 MO
$500M
$1.00B
$1.50B
$2.00B
$2.50B
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Series C $50.0M
Series D $100M
Series E $200M
ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then
HEADCOUNT · TODAY10,252 employees
+3%6m growth
+3%1y growth
+18%2y growth
5,000
10k
15k
Data from Jan 2021
TODAY
Predicted in 1 yr $1.37B −0% vs today
Predicted next raise $238M if a round comes
Winding-down probability 0%
Last round
Series E · $200M · Nov 2020
Valuation at last round
$1.00B
Headcount
10,252 · flat
Grade
D
Founded
2015
How VCMC values companies →

CARS24 valuation today

VCMC values CARS24 at $1.4B today, with a range of $119M to $1.7B and a grade of D. The valuation starts from its last funding round, a Series E round in Nov 2020.

Valuation by date (146 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

CARS24: valuation by date, as the model would have shown it on each date
DateValuationRangePredicted in 1 yrPhaseHeadcountTrendGradeWinding-down probability
1 Jan 2015$2.03M$0.74M – $5.59M$2.13M (+5%)before first round–unknownD0%
1 Feb 2015$2.04M$0.74M – $5.61M$2.14M (+5%)before first round–unknownD0%
1 Mar 2015$2.05M$0.75M – $5.63M$2.15M (+5%)before first round–unknownD0%
1 Apr 2015$2.06M$0.75M – $5.65M$2.16M (+5%)before first round–unknownD0%
1 May 2015$2.07M$0.75M – $5.67M$2.16M (+5%)before first round–unknownD0%
1 Jun 2015$2.07M$0.75M – $5.70M$2.17M (+5%)before first round–unknownD0%
1 Jul 2015$2.08M$0.76M – $5.72M$2.18M (+5%)before first round–unknownD0%
1 Aug 2015$2.09M$0.76M – $5.74M$2.24M (+7%)before first round–unknownD0%
1 Sep 2015$2.10M$0.76M – $5.76M$2.30M (+10%)before first round–unknownD0%
1 Oct 2015$2.11M$0.77M – $5.79M$2.36M (+12%)before first round–unknownD0%
1 Nov 2015$2.11M$0.77M – $5.81M$2.42M (+15%)before first round–unknownD0%
1 Dec 2015$2.12M$0.77M – $5.83M$2.49M (+17%)before first round–unknownD0%
1 Jan 2016$2.13M$0.78M – $5.85M$2.55M (+20%)before first round–unknownD0%
1 Feb 2016$2.14M$0.78M – $5.88M$2.62M (+23%)before first round–unknownD0%
1 Mar 2016$2.15M$0.78M – $5.90M$2.69M (+25%)before first round–unknownD0%
1 Apr 2016$2.16M$0.78M – $5.92M$2.76M (+28%)before first round–unknownD0%
1 May 2016$2.16M$0.79M – $5.95M$2.84M (+31%)before first round–unknownD0%
1 Jun 2016$2.17M$0.79M – $5.97M$2.91M (+34%)before first round–unknownD0%
1 Jul 2016$2.18M$0.79M – $5.99M$2.99M (+37%)before first round–unknownD0%
1 Aug 2016$2.24M$0.82M – $6.15M$3.07M (+37%)before first round–unknownD0%
1 Sep 2016$2.30M$0.84M – $6.32M$3.15M (+37%)before first round–unknownD0%
1 Oct 2016$2.36M$0.86M – $6.48M$3.24M (+37%)before first round–unknownD0%
1 Nov 2016$2.42M$0.88M – $6.66M$3.32M (+37%)before first round–unknownD0%
1 Dec 2016$2.49M$0.91M – $6.84M$3.41M (+37%)before first round–unknownD0%
1 Jan 2017$2.55M$0.93M – $7.02M$3.50M (+37%)before first round–unknownD0%
1 Feb 2017$2.62M$0.96M – $7.21M$3.60M (+37%)before first round–unknownD0%
1 Mar 2017$2.69M$0.98M – $7.38M$3.69M (+37%)before first round–unknownD0%
1 Apr 2017$2.76M$1.01M – $7.58M$3.79M (+37%)before first round–unknownD0%
1 May 2017$2.83M$1.03M – $7.78M$3.88M (+37%)before first round–unknownD0%
1 Jun 2017$2.91M$1.06M – $7.99M$3.99M (+37%)before first round–unknownD0%
1 Jul 2017$2.99M$1.09M – $8.20M$4.10M (+37%)before first round–unknownD0%
1 Aug 2017$3.07M$1.12M – $8.43M$4.21M (+37%)before first round–unknownD0%
1 Sep 2017$3.15M$1.15M – $8.66M$4.32M (+37%)before first round–unknownD0%
1 Oct 2017$3.23M$1.18M – $8.88M$4.43M (+37%)before first round–unknownD0%
1 Nov 2017$3.32M$1.21M – $9.12M$4.55M (+37%)before first round–unknownD0%
1 Dec 2017$3.41M$1.24M – $9.36M$4.67M (+37%)before first round–unknownD0%
1 Jan 2018$3.50M$1.28M – $9.62M$4.80M (+37%)before first round–unknownD0%
1 Feb 2018$3.60M$1.31M – $9.88M$4.93M (+37%)before first round–unknownD0%
1 Mar 2018$3.69M$1.34M – $10.1M$5.05M (+37%)before first round–unknownD0%
1 Apr 2018$3.79M$1.38M – $10.4M$5.19M (+37%)before first round–unknownD0%
1 May 2018$3.88M$1.41M – $10.7M$5.33M (+37%)before first round–unknownD0%
1 Jun 2018$3.99M$1.45M – $11.0M$5.47M (+37%)before first round–unknownD0%
1 Jul 2018$4.10M$1.49M – $11.2M$5.61M (+37%)before first round–unknownD0%
19 Jul 2018$396M$260M – $782M$514M (+30%)after a round–unknownB0%
1 Aug 2018$399M$260M – $782M$514M (+29%)after a round–unknownB0%
1 Sep 2018$408M$260M – $782M$514M (+26%)after a round–unknownB0%
1 Oct 2018$417M$260M – $782M$514M (+23%)after a round–unknownB0%
1 Nov 2018$427M$260M – $782M$514M (+20%)after a round–unknownB0%
1 Dec 2018$436M$260M – $782M$514M (+18%)after a round–unknownB0%
1 Jan 2019$446M$260M – $782M$514M (+15%)after a round–unknownB0%
1 Feb 2019$456M$260M – $782M$514M (+13%)after a round–unknownB0%
1 Mar 2019$465M$260M – $782M$514M (+11%)after a round–unknownB0%
1 Apr 2019$475M$260M – $782M$514M (+8%)after a round–unknownB0%
1 May 2019$486M$260M – $782M$514M (+6%)after a round–unknownB0%
1 Jun 2019$497M$260M – $782M$514M (+3%)after a round–unknownB0%
1 Jul 2019$508M$260M – $782M$514M (+1%)after a round–unknownB0%
1 Aug 2019$514M$254M – $782M$514M (0%)after a round–unknownB0%
1 Sep 2019$514M$243M – $782M$514M (0%)after a round–unknownB0%
1 Oct 2019$514M$232M – $782M$514M (0%)after a round–unknownC0%
18 Oct 2019$874M$615M – $1.6B$1.1B (+30%)after a round–unknownB0%
1 Nov 2019$883M$615M – $1.6B$1.1B (+29%)after a round–unknownB0%
1 Dec 2019$902M$615M – $1.6B$1.1B (+26%)after a round–unknownB0%
1 Jan 2020$922M$615M – $1.6B$1.1B (+23%)after a round–unknownB0%
1 Feb 2020$943M$615M – $1.6B$1.1B (+20%)after a round–unknownB0%
1 Mar 2020$963M$615M – $1.6B$1.1B (+18%)after a round–unknownB0%
1 Apr 2020$985M$615M – $1.6B$1.1B (+15%)after a round–unknownB0%
1 May 2020$1.0B$615M – $1.6B$1.1B (+13%)after a round–unknownB0%
1 Jun 2020$1.0B$615M – $1.6B$1.1B (+10%)after a round–unknownB0%
1 Jul 2020$1.1B$615M – $1.6B$1.1B (+8%)after a round–unknownB0%
1 Aug 2020$1.1B$615M – $1.6B$1.1B (+6%)after a round–unknownB0%
1 Sep 2020$1.1B$615M – $1.6B$1.1B (+3%)after a round–unknownB0%
1 Oct 2020$1.1B$615M – $1.6B$1.1B (+1%)after a round–unknownB0%
1 Nov 2020$1.1B$601M – $1.6B$1.1B (0%)after a round–unknownB0%
25 Nov 2020$1.0B$869M – $1.5B$1.3B (+30%)after a round–unknownA0%
1 Dec 2020$1.0B$869M – $1.5B$1.3B (+29%)after a round–unknownA0%
1 Jan 2021$1.0B$869M – $1.5B$1.3B (+26%)after a round1,900unknownA0%
1 Feb 2021$1.1B$869M – $1.5B$1.3B (+24%)after a round1,900unknownA0%
1 Mar 2021$1.1B$869M – $1.5B$1.3B (+21%)after a round1,900unknownA0%
1 Apr 2021$1.1B$869M – $1.5B$1.3B (+19%)after a round1,900unknownA0%
1 May 2021$1.1B$869M – $1.5B$1.3B (+16%)after a round1,900unknownA0%
1 Jun 2021$1.2B$869M – $1.6B$1.4B (+18%)after a round2,700growingB0%
1 Jul 2021$1.2B$869M – $1.6B$1.4B (+15%)after a round2,700growingB0%
1 Aug 2021$1.3B$869M – $1.6B$1.4B (+11%)after a round2,700growingB0%
1 Sep 2021$1.3B$869M – $1.6B$1.4B (+8%)after a round2,700growingB0%
1 Oct 2021$1.3B$869M – $1.6B$1.4B (+5%)after a round2,700growingB0%
1 Nov 2021$1.4B$869M – $1.6B$1.4B (+2%)after a round2,700growingB0%
1 Dec 2021$1.4B$872M – $1.6B$1.4B (0%)after a round2,700growingB0%
1 Jan 2022$1.4B$882M – $1.6B$1.4B (0%)after a round2,700growingB0%
1 Feb 2022$1.4B$893M – $1.6B$1.4B (0%)after a round2,700growingA0%
1 Mar 2022$1.4B$903M – $1.6B$1.4B (0%)after a round2,700growingA0%
1 Apr 2022$1.4B$914M – $1.6B$1.4B (0%)after a round2,700growingA0%
1 May 2022$1.4B$925M – $1.6B$1.4B (0%)after a round2,700growingA0%
1 Jun 2022$1.4B$936M – $1.6B$1.4B (0%)after a round2,700growingA0%
1 Jul 2022$1.4B$947M – $1.6B$1.4B (0%)after a round2,700growingA0%
1 Aug 2022$1.4B$631M – $1.6B$1.4B (0%)after a round2,700unknownB0%
1 Sep 2022$1.4B$606M – $1.6B$1.4B (0%)after a round2,700unknownB0%
1 Oct 2022$1.4B$583M – $1.6B$1.4B (0%)after a round2,700unknownB0%
1 Nov 2022$1.4B$560M – $1.6B$1.4B (0%)after a round2,700unknownB0%
1 Dec 2022$1.4B$510M – $1.6B$1.4B (0%)after a round2,700unknownB0%
1 Jan 2023$1.4B$485M – $1.6B$1.4B (0%)after a round2,700unknownC0%
1 Feb 2023$1.7B$561M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Mar 2023$1.7B$535M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Apr 2023$1.7B$509M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 May 2023$1.7B$484M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Jun 2023$1.7B$460M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Jul 2023$1.7B$438M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Aug 2023$1.7B$416M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Sep 2023$1.7B$396M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Oct 2023$1.7B$377M – $2.0B$1.7B (0%)after a round6,600unknownC0%
1 Nov 2023$1.8B$760M – $2.0B$1.7B (-6%)after a round7,400upB0%
1 Dec 2023$1.8B$591M – $2.0B$1.6B (-6%)after a round7,400upC0%
1 Jan 2024$1.7B$572M – $2.0B$1.6B (-6%)after a round7,400upC0%
1 Feb 2024$1.7B$554M – $2.0B$1.6B (-6%)after a round7,400upC0%
1 Mar 2024$1.8B$543M – $2.0B$1.7B (-4%)after a round7,800upC0%
1 Apr 2024$1.8B$529M – $2.0B$1.7B (-4%)after a round8,000upC0%
1 May 2024$1.8B$512M – $2.0B$1.7B (-4%)after a round8,000upC0%
1 Jun 2024$1.7B$496M – $2.0B$1.7B (-4%)after a round8,000upC0%
1 Jul 2024$1.7B$480M – $2.0B$1.7B (-4%)after a round8,000upC0%
1 Aug 2024$1.7B$238M – $2.0B$1.6B (-7%)after a round8,000flatD0%
1 Sep 2024$1.8B$458M – $2.0B$1.7B (-4%)after a round8,700upC0%
1 Oct 2024$1.7B$444M – $2.0B$1.7B (-4%)after a round8,700upC0%
1 Nov 2024$1.7B$430M – $2.0B$1.7B (-4%)after a round8,700upC0%
1 Dec 2024$1.8B$346M – $2.0B$1.7B (-3%)after a round9,000upC0%
1 Jan 2025$1.8B$333M – $2.0B$1.7B (-3%)after a round9,000upC0%
1 Feb 2025$1.8B$321M – $2.0B$1.7B (-3%)after a round9,000upC0%
1 Mar 2025$1.8B$310M – $2.0B$1.7B (-3%)after a round9,000upC0%
1 Apr 2025$1.8B$299M – $2.0B$1.7B (-3%)after a round9,000upC0%
1 May 2025$1.7B$288M – $2.0B$1.6B (-5%)after a round9,000upC0%
1 Jun 2025$1.7B$277M – $1.9B$1.6B (-5%)after a round9,000upC0%
1 Jul 2025$1.7B$267M – $1.9B$1.6B (-5%)after a round9,000upC0%
1 Aug 2025$1.8B$263M – $2.1B$1.8B (-2%)after a round9,868upD0%
1 Sep 2025$1.8B$253M – $2.0B$1.7B (-3%)after a round9,924upD0%
1 Oct 2025$1.7B$246M – $1.9B$1.6B (-5%)after a round9,934upD0%
1 Nov 2025$1.7B$246M – $1.9B$1.6B (-5%)after a round9,934upD0%
1 Dec 2025$1.7B$246M – $1.9B$1.6B (-5%)after a round9,959upD0%
1 Jan 2026$1.7B$246M – $1.9B$1.6B (-5%)after a round9,988upD0%
1 Feb 2026$1.7B$246M – $1.9B$1.6B (-5%)after a round9,988upD0%
1 Mar 2026$1.6B$246M – $1.9B$1.5B (-6%)after a round9,988upD0%
1 Apr 2026$1.6B$246M – $1.9B$1.5B (-6%)after a round9,988upD0%
1 May 2026$1.6B$247M – $1.8B$1.5B (-6%)after a round10,027upD0%
1 Jun 2026$1.5B$125M – $1.7B$1.4B (-2%)after a round10,027flatD0%
1 Jul 2026$1.5B$125M – $1.7B$1.4B (-1%)after a round10,027flatD0%
1 Aug 2026$1.5B$125M – $1.7B$1.4B (-1%)after a round10,027flatD0%
1 Sep 2026$1.5B$126M – $1.7B$1.4B (-1%)after a round10,188flatD0%
1 Oct 2026$1.5B$126M – $1.7B$1.4B (-1%)after a round10,252flatD0%
24 Oct 2026$1.4B$119M – $1.7B$1.4B (0%)after a round10,252flatD0%

Key facts about CARS24

Founded
2015
Headquarters
Gurgaon, India
Employees
about 10,300 +3% in a year
Total raised
$770M
Funding rounds
5
Last round
Debt Nov 2021

CARS24 was founded in 2015 by Gajendra Jangid, Mehul Agrawal, Ruchit Agarwal and Vikram Chopra.

CARS24 funding history

CARS24 has 5 funding rounds on record, from Jul 2018 to Nov 2021, $770M in total. The latest disclosed valuation is $3.30B post-money (Debt, Sep 2021).

  1. Debt 29 Nov 2021no round page

    With Commercial Bank of Dubai.

    Sources: arabnews.com

    $20M

  2. Debt 19 Sep 2021no round page

    With diversified financial institutions.

    Sources: yourstory.com, techfundingnews.com

    $400M

    $3.30B post-money

  3. Series E 24 Nov 2020

    Led by DST Global; with Exor Seeds, Moore Strategic Ventures, Unbound.

    Sources: bestmediainfo.com, firstpost.com, businesstoday.in and 2 more

    $200M

    $1.00B post-money

  4. Series D 17 Oct 2019

    Led by KCK Global, Unbound; with Sequoia India, Agnelli (Fiat) Family, Sequoia Capital, Moore Strategic Ventures, DST Global, Partners Fund, KCK Financial Services.

    Sources: yourstory.com, autocarpro.in, plizz.co and 1 more

    $100M

  5. Series C 18 Jul 2018

    Led by Sequoia Capital; with Kingsway FCI Fund, KCK Global Limited.

    Sources: entrackr.com

    $50M

CARS24 investors

14 investors have backed CARS24; DST Global, Sequoia Capital and Unbound and 1 more led at least one round.

  • DST Global lead, 2 rounds
  • Sequoia Capital lead, 2 rounds
  • KCK Global lead
  • Moore Strategic Ventures 2 rounds
  • Agnelli (Fiat) Family
  • Commercial Bank of Dubai
  • diversified financial institutions
  • Exor Seeds
  • KCK Global Limited
  • Kingsway FCI Fund
  • Partners Fund
  • Sequoia India

What CARS24 does

CARS24 works in automobile dealers & manufacturers, with 12 recorded offerings and customers in automotive.

Global Car Group Limited, known as CARS24, is an Indian company engaged in the online marketplace for used and new cars, as well as related automotive services. The company operates a car stock exchange and provides car financing options, including used car loans, personal loans, and credit cards. CARS24 also offers car valuation, scrapping, maintenance, driver hire, and car service history services. The company serves both individual and business clients across multiple cities in India and has a global presence. Its operations are supported by technologies such as AI and machine learning, and the company is committed to sustainability through the use of eco-friendly materials and practices.

Description from Veridion's company data.

Products and services

  • Used and New Car Retail
  • Car Financing and Insurance Services
  • Car Valuation Services
  • Car Scrapping Services
  • Car Maintenance Services
  • Driver Hire Services
  • Car Service History Verification Services
  • Car Exchange Services
  • AI-Driven Automotive Solutions
  • Sustainable Automotive Solutions
  • Multilingual Automotive Services
  • Mobile and Web-Based Automotive Platforms

Markets

  • Automotive

Technology

  • AI and Machine Learning

Business model

  • Business-to-Business
  • Business-to-Consumer
  • Service Provider
  • Marketplace

Industry codes (NAICS)

  • 441120 Used Car Dealers 60% match
  • 522291 Consumer Lending 25% match
  • 524210 Insurance Agencies and Brokerages 15% match

Questions about CARS24

What is CARS24 worth?

Valuation $1.4B (range $119M to $1.7B), as of 24 Oct 2026. The last disclosed valuation was $3.30B (Debt, Sep 2021).

Has CARS24 raised money?

CARS24 has 5 funding rounds on record, from Jul 2018 to Nov 2021, $770M in total. The latest disclosed valuation is $3.30B post-money (Debt, Sep 2021).

Who has invested in CARS24?

DST Global, Sequoia Capital, Unbound, KCK Global, Moore Strategic Ventures and Agnelli (Fiat) Family, and 8 more. Lead investors include DST Global, Sequoia Capital, Unbound and KCK Global.

How many people work at CARS24?

About 10,300, up 3% over the last year. Headcount grew from 1,900 in Jan 2021 to 10,252 in Sep 2026.

What does CARS24 do?

CARS24 works in automobile dealers & manufacturers, with 12 recorded offerings and customers in automotive. Its main offerings are used and new car retail, car financing and insurance services and car valuation services.

When was CARS24 founded, and where is it based?

CARS24 was founded in 2015 and is based in Gurgaon, India. It has about 10,300 employees, up 3% over the last year.

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