Chennai: E-commerce Unicorn Cars24 used cars have almost doubled to $ 3.3 billion from $ 1.8 billion in September now because they collect $ 400 million in the fresh round.
The current funding includes a $ 300 million series equity equity along with a $ 100 million debt from diverse financial institutions including Dubai commercial banks and IFM Australian investors.
This latest round is the increase in the third fund of Cars24 in just a year.
The equity round of the G series is led by the Global Alpha Wave Investor Return (formerly known as the capital of Falcon EDGE) together with other existing investors.
Additional $ 100 million cumulative debt funds have been appointed throughout India, Australia and the UAE.
Vikram Chopra, Co-Founder & CEO Cars24, told TII that the increased number will be used to improve business in the global market and secure his footsteps in India.
“We make good progress in Australia, the Middle East and Thailand and we will build it,” he added.