SoftBank, DST Global and Falcon Edge Capital are leading US$340mil (RM1.43bil) in equity funding, joined by Chinese social media giant Tencent Holdings Ltd and existing backers.
MUMBAI: Cars24 Services Pvt is raising US$450mil (RM1.89bil) in equity and debt from SoftBank Group Corp and other investors, underscoring growing demand for used vehicles as Covid disruptions and systemic chip shortages crimp auto production.
The round values India’s largest used-car site at US$1.84bil (RM7.71bil), almost doubling from the end of last year.
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