Retail

CarDekho looks at doubling revenue in FY20 to Rs 520 crore


NEW DELHI: Auto tech firm CarDekho is aiming to double revenues to Rs 520 crore in the ongoing financial year despite the sluggish environment in the domestic automobile market.

“Despite the slowdown in the automobile market, we have registered strong growth across our business verticals last quarter. Our revenues increased 92% to $13 million in the three months to June 2019. If the market was bullish, we would have grown even faster,” CarDekho Group co-founder Anurag Jain told ET.

While the used cars transaction services business (used cars, insurance, financing services) grew 263%, the new auto division saw revenues shoot up 44%, the company said. The company, which raised $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank earlier this year, said it will deploy the resources to expand its used car transaction services business and launch operations in two new markets in Southeast Asia in the course of the ongoing financial year.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.