cardekho

cardekho has recorded 62% revenue growth in its overall business in comparison with that in last year.

cardekho Gaadi Store, a retail auction model for pre-owned cars, on Wednesday launched seven stores in Mumbai. The opening of these stores is part of an ambitious move by cardekho to establish 200 Gaadi stores across India by 2020.

The cardekho group is a business that enables online buying and selling of cars and bikes, insurance broking, and financing cars. The company has narrowed its losses by 28% in FY22, and plans to become profitable by FY24. The group's consolidated revenue went up by 81% in FY22 from FY17. cardekho also said that it is planning an IPO but did not mention a timeline.

Jaipur's leading auto tech group cardekho registered 81% growth in consolidated revenue in FY22, narrowing its losses by 28% to Rs 246 crore from Rs 341 crore in FY21. Total expenses of the group increased by 70%, signifying a strong operating leverage. There was also an exceptional item towards recognition of markto market value due to conversion of a subsidiary into an associate company. Amit Jain, co-founder and CEO of cardekho Group said, "We derive strength from our unwavering customer centricity, cardekho group benefits from its ecosystem play built on robust techstack with offerings designed around addressing specific needs of the consumers around mobility." Jain said the stellar business growth is a testament to the trust reposed in cardekho Group by over 50 million visitors over 5000 used car loan agent partners, more than 50000 insurance partners in over 1300 cities, and 3500 used car dealers.

The company has circulated the offer letter to 71 eligible employees for participating in the repurchase plan.

Online automobile marketplace cardekho, which is the flagship portal of Jaipur-based Girnar Software Pvt Ltd, may snap up a company in the Southeast Asian region to strengthen its offerings in that geography, said cardekho founder Amit Jain.

Ratan Tata has made a personal investment in auto classifieds portal cardekho, once again reaffirming his bullishness around India’s rapidly growing digital consumption story.

cardekho looking to facilitate $1bn in auto financing.

At a time when auto companies are cutting production and idling shifts comes this good news. Auto tech startup cardekho is aggressively increasing its workforce and plans to hire over 2,000 employees in the current FY.

One of China's biggest investment funds, Hillhouse Capital, which manages over $13 billion in assets, is likely to lead a $40-50-million financing round in auto classifieds portal cardekho.

Auto classifieds portal cardekho.com has raised $50 million, or about Rs 307 crore, in a new round of funding led by Chinese funds Hillhouse Capital and Tybourne Capital, in yet another example for global hedge funds' increasing interest in India's consumer internet sector.

cardekho works directly with more than eight car and motorcycle manufacturers, and accounts for 15-30 per cent of their combined annual sales. It also works with 5,000 dealerships across India.

In another move signalling consolidation in the online auto classifieds space, Jaipur-based cardekho is acquiring Zigwheels, an auto portal owned by Times Internet. This is the second big acquisition by Girnar Soft, which runs the cardekho, BikeDekho and PriceDekho sites, after it bought out Naspers-backed Gaadi.com a year ago.