People · Mobility & Logistics

CARS24 appoints Divanshu Saxena as CBO of LOANS24

By Startup Enthusiast · 26 December 2025

What they do

CARS24 is an autotech platform for buying and selling used cars

It elevated Divanshu Saxena as Chief Business Officer of its NBFC arm LOANS24

Saxena previously led consumer financing at LOANS24 and was a BCG project leader

CARS24 has elevated Divanshu Saxena as the Chief Business Officer of its financial services business LOANS24.
LOANS24 is the NBFC (non-banking financial company) arm of CARS24.
Saxena previously headed the consumer financing business for LOANS24.
He is an alumnus of IIM Calcutta (Institute Rank 3, Silver Medal) and SRCC (B.Com with merit).
Before CARS24, he was a Project Leader at BCG in the Financial Services and Industrial Goods practice.
Ruchit Agarwal is the Co-Founder and Group CFO of CARS24.

The appointment signals CARS24's focus on scaling its lending operations and strengthening profitability.
Under Saxena's leadership, LOANS24 saw strong growth in finance penetration and healthy returns.
The NBFC arm competes with established banks and other NBFCs.

CARS24 is an autotech platform that lets users buy and sell used cars, get car loans, buy new cars, and pay challans (traffic fines).
LOANS24 is the NBFC arm of CARS24 that provides financial services.

As CBO, Saxena will focus on scaling lending operations, strengthening profitability, risk discipline, and institutional robustness.

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.