Funding · Commerce & Consumer Brands

Cars24 raises ₹3,500 crore in Series F round

By Startup Enthusiast · 2 March 2026

Date: 2 March 2026
Company: Cars24
What it does: Online used-car marketplace
Kind: Funding
Amount: ₹3,500 Cr
Stage: Series F
Based in: Gurugram
Founded: 2014
Sector: Commerce & Consumer Brands

What they do

Cars24 is an online marketplace for buying and selling used cars

What happened

It raised ₹3,500 crore (about $420 million) in a Series F round led by MARS Unicorn Fund

Why it matters

The funding will fuel expansion and strengthen its position in the used-car market; this round follows earlier investments from DST Global and other backers

The details

Cars24, an online marketplace for used cars, raised ₹3,500 crore (about $420 million) in a Series F funding round.
The round was led by MARS Unicorn Fund, with participation from existing investors.
The company plans to use the funds for expansion and to strengthen its market position.
This funding round comes as part of Cars24's strategy to scale operations.
The company has not disclosed the exact valuation at this stage.
Cars24 has raised significant capital in previous rounds from investors like DST Global.

The bigger picture

The used-car market in India is growing rapidly, and Cars24 is a key player.
This funding will help Cars24 compete with other online car platforms.
The investment signals confidence in Cars24's business model and growth prospects.
Cars24's expansion plans may include entering new cities or enhancing its technology.

About the business

Cars24 is an online marketplace for buying and selling used cars.
It offers services like car inspection, valuation, and instant payment.
The company operates in multiple cities across India.
Cars24 also provides financing and warranty options to customers.
It generates revenue through commissions and service fees.
The platform aims to make car selling and buying transparent and convenient.

What happens next

Cars24 plans to use the funds for expansion and to strengthen its market position.
The company may enter new cities or enhance its technology and services.

The deal

Type: Series F

Investors

MARS Unicorn Fund (lead) — A fund that invests in high-growth startups.

Founders

Vikram Chopra, Co-founder
Gajendra Jangid, Co-founder
Mehul Agrawal, Co-founder
Ruchit Agarwal, Co-founder

About Cars24

Product: An online platform for used-car buying, selling, and related lending services.
Customers: Consumers and dealers transacting in used cars.
How it makes money: It earns from vehicle sales, marketplace transactions, and financing-related services.
What sets it apart: Uses AI to improve operating efficiency and support growth.
Operations: Operates across multiple countries and runs auction and retail businesses in India.

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