CarTrade Secures $30mn Funding Led By Warburg Pincus

Online auto classifieds platform and marketplace, CarTrade has raised Rs 185 crores ($30mn) led by an affiliate of Warburg Pincus with participation from existing investors Canaan Partners and Tiger Global.cartrade

This funding will be utilized to diversify and strengthen CarTrade’s offerings for consumers.

CarTrade was started by Vinay Sanghi, the former CEO of Mahindra First Choice. Rajan Mehra, Managing Director at Nirvana Venture Advisors and former country head of eBay India is a Founder-Director in the company. Other investors include Canaan Partners, Epiphany Overseas Ventures and Tiger Global.

Earlier, ibibo sold Gaadi to Cardekho.

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