- Kunal Manchanada
- April 26, 2024
Used car segment has been witnessing back to back deals since the beginning of this year. After Spinny and CarDekho, CarTrade is set to raise Rs 321.6 crore in a Series H round from existing investors Temasek, Warburg Pincus and March Capital Partners.
Highdell, Temasek and March Capital will be investing Rs 107.2 crore each for 12,99,075 shares respectively, as per regulatory filings. According to Fintrackr’s calculation, CarTrade will be valued at around Rs 3,930.3 crore ($525 million). The company’s valuation has jumped by 35% as compared to its last funding round when it raised Rs 242.3 crore from Temasek in 2017.
After the completion of the Series H round, Warburg Pincus (via Hidell Investment) will be the biggest stakeholder in the company, commanding 34.74% stake worth Rs 1,365.6 crore($182.1 million). Temasek would own 26.7% in the Mumbai-based firm. The Singapore government-owned firm’s stake is valued about Rs 1,050 crore ($140 million).
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