Used car website becomes the newest ‘unicorn’

Cars24, an Indian company for second-hand vehicles, has become the latest unicorn startup in India. It has raised $200 million from DST Global and its existing investors. The company’s valuation has now reached $ 1 billion.

“Traditionally, car selling or buying has been a tiresome process, however, over the last five years, we have strived to transform the customer’s journey- ‘the CARS24 way’ that is hassle-free, safe and transparent,” said Vikram Chopra, Co-founder and CEO, Cars24 in a statement.

During the pandemic, people preferred personal vehicles over the public, and they shifted towards used cars. Cars24 has offered people the best alternative for the mass transit systems, i.e., used cars.