CARS24 Raises INR 345 Cr From Parent Company

CARS24 will primarily use the funds for working capital needs and strengthening its core offerings, a source said

The funding comes almost a year after Global Car Group pumped in INR 250 Cr in CARS24

Ahead of its probable IPO, CARS24 is doubling down on profitable verticals while shutting or downsizing other verticals

Auto marketplace CARS24’s Singapore-based parent, Global Car Group Limited, has infused INR 345.2 Cr in the startup.

CARS24’s board approved the allotment of 3.04 Lakh equity shares to Global Car…