CarDekho SEA Secures $60M to Transform Auto Financing in South Asia
CarDekho SEA has raised $60 million in funding led by Navis Capital Partners and Dragon Fund to enhance operations in Indonesia and the Philippines. The investment aims to strengthen CarDekho's presence in used auto financing, expand its market share, and improve its financial services across South Asia.
- Country:
- India
CarDekho's South Asia business unit recently attracted USD 60 million in fresh funding. The investment round, led by Navis Capital Partners and Dragon Fund, seeks to bolster the company's existing operations in Indonesia and the Philippines, focusing on financing and refinancing used vehicles.
According to a company statement, the funds will be channeled towards auto financing enhancements and optimizing classified ad management. The initiative aims to further strengthen CarDekho's standing in the used car financing sector in Indonesia, where it currently holds a 3% market share.
Since its inception in 2020, CarDekho SEA has registered marked growth, with over 200,000 loan disbursements and surpassing USD 1 billion in loans disbursed, signaling a promising upward trajectory in the region.
(With inputs from agencies.)
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