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Cars24 is in talks to raise $200 million, and Tiger Global is eyeing Yap, according to India Digest.
Reuters photo
July 2, 2021, by Pramugdha Mamgain
Cars24, which provides customers with a tech-enabled platform to purchase and sell used cars, is in talks to raise $200-250 million in new funding. Tiger Global is also in talks to lead an investment round in Yap, a fintech infrastructure company.
DST Global is in talks to fund Cars24.
Cars24, which provides clients with a tech-enabled platform to purchase and sell used cars, is in talks to receive $200-250 million in new funding from existing investors, including DST Global, at a valuation of up to $2 billion.
Bloomberg reports that more investors, including Moore Capital Management, may join the round.
After raising $200 million in a Series E round in November of last year, Cars24 was valued at over $1 billion. DST Global led the investment, which included existing investors such as Exor Seeds, Unbound, and Moore Strategic Ventures.
Cars24, which was founded five years ago with the goal of streamlining the purchase and selling of used automobiles via the use of cutting-edge technology, now has 230 locations in 100 cities. Despite the pandemic, it was able to grow its presence from 155 to 230 locations in 35 cities by September of last year.
Tiger Global is looking at you. Yap
According to media sources, Tiger Global, a New York-based investment firm, is in talks to lead a $30-35 million capital round in Indian fintech infrastructure provider Yap.
According to Entrackr, Omidyar Network, Flourish Ventures, and Beenext may also participate in the round.
It will be Yap’s second fundraise in less than three months if the talks go through. In May, Flourish Ventures and Omidyar Network India co-led a $10 million Series B financing for the firm.
Yap’s Application Programming Interface (API) platform connects digital platforms, fintech companies, and offline businesses with other fintech platforms and non-banking financing organizations to provide personalised solutions to their end-users.
DST DST DST DST DST DST DST DST DST DST D Moore Capital Management is a private equity firm based in New
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Cars24 becomes a unicorn thanks to a $200 million investment spearheaded by DST Global.
The funds will be utilized to expand Cars24’s additional business lines, including pre-owned motorcycles, customer finance, and service.
Yap, a fintech startup in India, acquires $10 million in a round led by Flourish Ventures and Omidyar Network.
The investment round included current Yap investors Beenext, 8i Ventures, and DMI Group.
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