CarDekho Revenue, Valuation, Funding & Investors
CarDekho is valued at $1.2B as of October 2021, a 4.0x multiple on its last reported $299M revenue.
Last CarDekho valuation
$1.2B
Series E · Oct 2021
Last CarDekho funding round
$200M
Series E · Oct 2021
CarDekho revenue
$299M
Series E · Oct 2021
Key investors in CarDekho
Peak XV Partners
Hillhouse Investment
Tybourne Capital Management
Sunley House Capital Management
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>)
RatanRubySequoia Capital
About CarDekho
CarDekho is a Jaipur-headquartered provider of IT services encompassing enterprise mobility, web development, and offshore staffing. Its mobility solutions cover iOS and Android app development for B2B applications, business intelligence, and process mobilization, serving sectors like automotive and e-learning. Web services include e-commerce platforms, CRM systems, and responsive designs built with PHP, .NET, and open-source frameworks. Founded in 2008, the company staffs developers for clients in finance, healthcare, and travel across India and the United States.
Founded
2008
HQ
GurgaonWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Revenue
$299M (Oct 2021)
Valuation
$1.2B (Oct 2021)
CarDekho Valuation
CarDekho is currently valued at $1.2B, based on its Series E in October 2021.
The $200M round was led by LeapFrog Investments, with participation from Canyon Partners, Mirae Asset, Putnam Premier IT, Dillon Hattab, Changer Club and 4 other investors.
CarDekho's valuation has grown 4.0x from $300M at its Series B in January 2015 to $1.2B in October 2021, across 4 priced rounds.
CarDekho valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2021 | Series E | $1.2B | 4.0x |
| Dec 2019 | Series D | $700M | 25.0x |
| Jan 2019 | Series C | $460M | 27.1x |
| Jan 2015 | Series B | $300M | - |
CarDekho Revenue
CarDekho's latest recorded revenue is $299M, as of its Series E in October 2021. At a $1.2B valuation, that implies a 4.0x revenue multiple.
Revenue grew from $17M in January 2019 to $299M in October 2021, while the revenue multiple moved from 27.1x to 4.0x.
CarDekho revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2021 | $299M | $1.2B | 4.0x | Series E |
| Dec 2019 | $28M | $700M | 25.0x | Series D |
| Jan 2019 | $17M | $460M | 27.1x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
CarDekho Funding History
CarDekho has raised a total of $448M across 6 funding rounds.
CarDekho's first fundraising round was a $15M Series A in November 2013. The most recent completed round was a $200M Series E in October 2021.
CarDekho funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2021 | Series E | LeapFrog Investments (lead); Canyon Partners; Mirae Asset; Putnam Premier IT; Dillon Hattab; Changer Club; Harbor Spring Capital; Flucas Ventures; Sunley House Capital Management; Peak XV Partners | $200M | $1.2B | CarDekho, an Indian car search and e-commerce platform headquartered in Jaipur, raised $250 million in October 2021, comprising $200 million in Series E equity and $50 million in debt, led by LeapFrog Investments with participation from Canyon Partners, Harbor Spring Capital, Mirae Asset, Franklin Templeton, Peak XV Partners (formerly Sequoia Capital India), and Sunley House Capital Management. The funding valued the company at $1.2 billion post-money, granting it unicorn status as India's 31st unicorn of 2021. This pre-IPO round followed a Series D in November 2019 where it raised $70 million at a $725 million valuation led by Ping An. The capital is earmarked for expanding CarDekho's used car transactions, financial services, and insurance businesses, as well as geographic expansion into new markets. At the time, the company operated in over 100 markets, buying cars from customers and offering a catalog of more than 3,000 certified pre-owned vehicles for online purchase, with plans to grow the catalog to 10,000 cars. Co-founder and CEO Amit Jain highlighted the evolution from a car research portal to a full ecosystem for buying, lifecycle management, and selling vehicles. LeapFrog Investments emphasized CarDekho's role in making vehicles more accessible, affordable, and trustworthy for over three million emerging consumers, supporting mobility as a driver for healthcare, education, and employment access. The round aligns with surging investor interest in Indian startups, contributing to nearly three dozen new unicorns that year amid heightened activity from global funds. |
| Dec 2019 | Series D | Ping An Global Voyager (lead); Hillhouse Investment; Sequoia Capital; Sunley House Capital Management | $70M | $700M | CarDekho, operated by Jaipur-based Girnar Software Pvt. Ltd and founded in 2008 by Amit and Anurag Jain, is a leading Indian autotech company providing an online automotive marketplace for new and used cars, along with services like insurance and biking via platforms such as CarDekho.com, Gaadi.com, ZigWheels.com, BikeDekho.com, InsuranceDekho.com, and PowerDrift.com. It digitizes the auto ecosystem, aiding consumers in car buying, ownership, and financial services. The company operates internationally in Indonesia (as OTO.com since 2016) and the Philippines (acquired Carmudi operations in late Nov 2019). On December 5, 2019, CarDekho raised $70 million in a Series D round led by Ping An Global Voyager Fund in its first Indian investment, with participation from Sunley House Capital Management (Advent International subsidiary), Sequoia Capital India, and Hillhouse Capital. This brought total funding to over $250 million. The post-money valuation was reported at $700 million. Funds were allocated to strengthen transaction businesses, expand international footprint, enhance technological capabilities, and grow domestic and global operations toward becoming India's largest personal mobility player. Near the round, CarDekho reported H1 FY19-20 revenue of $28 million, reflecting 92% year-on-year growth. Ping An highlighted synergies with its 'finance + ecosystem' strategy, citing CarDekho's financial services success akin to its stake in China's Autohome, and noted its capture of significant auto industry digital ad spending amid India's shift to digital advertising. Prior to this, CarDekho raised $110 million in January 2019 from Sequoia, Hillhouse, CapitalG, and Axis Bank. |
| Jan 2019 | Series C | CapitalG (lead); Hillhouse Investment (lead); Peak XV Partners (lead); Tybourne Capital Management; Ratan Tata; RatanRuby; HDFC Bank; Times Internet; Axis Bank; Aquila Capital; Dentsu | $110M | $460M | CarDekho, operated by Girnar Software Pvt. Ltd. and headquartered in Jaipur, India, is an online platform launched in 2008 for searching new and used cars, offering expert reviews, price comparisons, and partnerships with over eight automakers contributing 15-30% of their combined annual sales, 5,000 dealers directing 42% of retail sales, and financial institutions for insurance via InsuranceDekho.com and financing. In January 2019, CarDekho raised $110 million in its Series C funding round from investors including CapitalG (Alphabet's growth arm), Hillhouse Capital, Sequoia India (now Peak XV Partners), Axis Bank, and existing backers like Tybourne Capital, Ratan Tata, HDFC Bank, Times Internet, and Dentsu, valuing the company at an estimated $400-500 million, up from $360 million in 2016. The funds were allocated to expand the used car segment, which was growing at 150% and comprised 20% of business expected to reach 50%, alongside insurance and finance verticals with loan disbursements surging to over INR 1,000 crore from INR 200 crore. For FY18 (ending March 2018, proximate to the round), CarDekho reported revenues of INR 160 crore, up 40% from INR 114 crore in FY17, driven by used car, financing, and insurance growth, with losses narrowing to INR 70 crore from prior levels. The company had raised $75 million previously across three rounds, bringing total to $185 million post-Series C. CarDekho employs an acquisition strategy, having bought bootstrapped startups like Zigwheels, Gaadi, and later Carmudi Philippines, and operates internationally under brands like ZigWheels and OTO in markets including Malaysia, Indonesia, and the Philippines. A subsequent Series D round of $70 million followed in late 2019 led by Ping An Global Voyager Fund. |
| Mar 2018 | Series B | Peak XV Partners (lead) | $3M | - | CarDekho raised $2.5 million in its Series B funding round in March 2018, led by Peak XV Partners. The round aimed to enhance user experience and expand service offerings for the automotive portal. Earlier, CarDekho completed a Series A round of $15 million in November 2013, also led by Peak XV Partners, to expand platform capabilities and market reach. Subsequent rounds included a Series C of $110 million in January 2019 led by CapitalG, Hillhouse Investment, and Peak XV Partners to accelerate growth and enter new markets. |
| Jan 2015 | Series B | Tybourne Capital Management; RatanRuby; Hillhouse Investment; Peak XV Partners | $50M | $300M | CarDekho.com is India's leading automotive classifieds and e-commerce platform founded by Amit Jain and Anurag Jain. The company operates a digital marketplace where users can browse, compare, and purchase new and used vehicles, along with associated services including financing and insurance through its partner dealer network. CarDekho has expanded internationally to Malaysia, Thailand, and Indonesia through subsidiaries including Oto.com and CarBay.my. The company has grown its platform to include 39 million monthly unique visitors, 1.9 million YouTube subscribers, and 5 million mobile app downloads across markets. In May 2015, HDFC Bank made a strategic investment in CarDekho, validating its position in digital auto finance and expressing intention to facilitate over a billion dollars in auto loans through the platform. HDFC Bank highlighted the used car finance market as an untapped blue ocean opportunity where CarDekho could drive digital adoption. By FY18, CarDekho had achieved revenues of INR 160 crore (approximately USD 21.6 million), representing 40% YoY growth, with losses narrowed to INR 70 crore. The company has built a network of 5,000 dealer partnerships, including 3,000 focused on used vehicles, and expanded into financing and insurance services with loan disbursements exceeding INR 1,000 crore annually. CarDekho's used car business was growing at 150% YoY and accounted for 20% of total revenue at that time, with management projecting it would represent 50% of revenue within five years. |
| Nov 2013 | Series A | Peak XV Partners (lead) | $15M | - | CarDekho, India's largest car search platform, raised $15 million in Series A funding in November 2013 led by Peak XV Partners (then known as Sequoia Capital India). The company is operated by Girnar Software and provides car research, comparison, and transaction capabilities for both new and used vehicles. At the time of the round, CarDekho had a presence across multiple cities in India and operated adjacent platforms including BikeDekho.com and PriceDekho.com. The company generated revenue through website advertising and commissions on car sales. Following this initial institutional investment, CarDekho expanded significantly over subsequent years, eventually reaching unicorn status with a $1.2 billion valuation in October 2021 as it scaled used car transactions, financial services, and insurance offerings. |
Who has invested in CarDekho?
22 investors have backed CarDekho across its funding rounds, including Peak XV Partners, Hillhouse Investment, Tybourne Capital Management, Sunley House Capital Management, RatanRuby and Sequoia Capital.
Lead investors include LeapFrog Investments, Ping An Global Voyager, CapitalG, Hillhouse Investment and Peak XV Partners.
CarDekho Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Bangalore | 5 | Lead | Nov 2013 | |
 Singapore | 3 | Lead | Jan 2015 | |
 Hong Kong | 2 | Participant | Jan 2015 | |
| RatanRuby | Mumbai | 2 | Participant | Jan 2015 |
 Boston, MA | 2 | Participant | Dec 2019 | |
| Los Angeles, CA | 1 | Participant | Oct 2021 | |
 Seoul | 1 | Participant | Oct 2021 | |
| United States | 1 | Participant | Oct 2021 | |
| Dillon Hattab | -- | 1 | Participant | Oct 2021 |
 Lausanne | 1 | Participant | Oct 2021 | |
| Ratan Tata | Houston, TX | 1 | Participant | Jan 2019 |
| Hong Kong | 1 | Lead | Dec 2019 | |
| Harbor Spring Capital | New York City, NY | 1 | Participant | Oct 2021 |
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Start Free TrialAcquisitions by CarDekho
CarDekho has acquired 4 companies to date.
Last acquisition by CarDekho was on December 4th 2023. CarDekho acquired Revv for undisclosed valuation.
Latest Acquisitions by CarDekho
| Description | Revv is a Gurgaon-based car rental company in India offering self-drive vehicles including hatchbacks, sedans, SUVs, and luxury models like Mercedes and BMW. Operating in 20 cities such as Delhi, Mumbai, Bangalore, and Hyderabad, Revv provides hourly, daily, weekly, and monthly rentals with all-inclusive pricing covering fuel up to 1,300 kilometers daily and zero security deposit. The fleet exceeds 10,000 cars, serving over 1 million trips annually through its app and web platform. | Carmudi Philippines is a Manila-based automotive classifieds site listing over 50,000 vehicles including sedans, SUVs, and motorcycles. Operating since 2014, it draws 2 million monthly visitors with tools for price comparisons and dealer ratings. Carmudi Philippines supports transactions in 100 cities, integrating certified inspections and home delivery options. | - | Gaadi Web is an online automotive marketplace in India that enables new car research, direct purchases from dealers, and used vehicle classifieds. Launched in 2008, the platform ranks among the country's top two car portals and delivers car reviews alongside news updates. It supports offline transactions by arranging bank financing for new and pre-owned cars plus distribution of vehicle insurance policies. Headquartered in Jaipur under the Girnar Software umbrella, Gaadi Web covers nationwide operations through its website and applications. |
| HQ Country | |  | | |
| HQ City | Gurgaon | Manila | - | Gurgaon |
| Deal Date | 4 Dec 2023 | 28 Nov 2019 | 29 Apr 2015 | 30 Sep 2014 |
| Valuation | undisclosed | $158M | undisclosed | $11M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all CarDekho acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Investments by CarDekho
CarDekho has invested in 2 companies to date.
Latest investment by CarDekho was on December 26th 2025. CarDekho invested in CollegeDekho in their $10M Strategic investment round.
Latest Investments by CarDekho
| Description | CollegeDekho is a Noida, India-headquartered platform facilitating college discovery and enrollment since 2015. It aggregates details on thousands of Indian institutions, connects prospective students with admissions offices, and supports over a thousand colleges in recruitment efforts through collegedekho.com. | CarDekho SEA is a Singapore-based platform offering used car financing, refinancing loans, dealer inventory funding, and online classifieds. It connects buyers, sellers, and financiers in Southeast Asia, with operations in Indonesia, Thailand, and Malaysia. The service facilitates loans for vehicles from brands like Toyota and Honda through partnerships with local banks. Launched in 2020, CarDekho SEA processes thousands of transactions monthly via its mobile app and website. |
| HQ Country | | |
| HQ City | Gurgaon | Singapore |
| Deal Date | 26 Dec 2025 | 1 Jan 2022 |
| Round | Strategic investment | Strategic investment |
| Raised | $10M | $40M |
| Investors | - | - |
| Valuation | $25M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all CarDekho investments and their VC round multiples. Start Free Trial | ||
CarDekho Competitors
CarDekho competitors include listed companies like Neusoft and Bravura Solutions, and private ones like Enter, Torq, Teamworks and DevRev.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 São Paulo | Private | $10M | - | $1.2B | 120.0x | |
 Tel Aviv | Private | $24M | - | $1.2B | - | |
| Durham, NC | Private | - | - | $1.2B | - | |
| San Francisco, CA | Private | - | - | $1.1B | - | |
 China | Publicly listed | $1.8B | $3M | $1.4B | 0.6x | |
 Australia | Publicly listed | $201M | $55M | $1B | 4.9x |
CarDekho Public Comps
CarDekho is still privately-owned, but its public comps include Data#3, Taiji Computer, Beijing Topnew Info, Odine, Bytes Technology Group, Datatec, Chinasoft International, Daou Technology, DTS and Norbit.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $645M | $54M | 1.5x | 0.4x | 17.8x | 17.4x | |||
| $1.2B | ($61M) | 1.4x | 1.4x | (27.0x) | (27.9x) | |||
| $39M | ($4M) | 29.7x | - | (325.1x) | - | |||
| $39M | $3M | 29.9x | - | 339.8x | - | |||
| $296M | $88M | 3.8x | 3.5x | 12.6x | 12.2x | |||
| $3.7B | $259M | 0.3x | - | 4.8x | - | |||
| $2.5B | $115M | 0.6x | 0.6x | 13.6x | 10.4x | |||
| $13B | $1.3B | - | - | - | - | |||
This data is available for Pro users. Sign up to see all CarDekho competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CarDekho
| When was CarDekho founded? | CarDekho was founded in 2008. |
| Where is CarDekho headquartered? | CarDekho is headquartered in Gurgaon, India. |
| Is CarDekho publicly listed? | No, CarDekho is a private, VC-backed company. |
| What is CarDekho's valuation? | CarDekho was last valued at $1.2B in its Series E in October 2021. |
| How much funding has CarDekho raised? | CarDekho has raised $448M across 6 funding rounds. |
| What was CarDekho's last funding round? | CarDekho's last funding round was a $200M Series E in October 2021, led by LeapFrog Investments. |
| Who are CarDekho's investors? | CarDekho's investors include Peak XV Partners, Hillhouse Investment, Tybourne Capital Management, RatanRuby, Sunley House Capital Management, Canyon Partners, Mirae Asset, Putnam Premier IT, Dillon Hattab, Changer Club and 12 others. |
| What is CarDekho's revenue? | CarDekho's latest recorded revenue is $299M (October 2021). |
| What is CarDekho's revenue multiple? | CarDekho's latest valuation implies a 4.0x revenue multiple ($1.2B valuation on $299M of revenue). |
| Which companies are comparable to CarDekho? | Companies comparable to CarDekho include Enter, Torq, Teamworks, DevRev, Neusoft and Bravura Solutions. |
| How many companies has CarDekho acquired? | CarDekho has acquired 4 companies, including Revv, Carmudi Philippines, BuyingIQ and Gaadi Web. |
| What was the largest acquisition by CarDekho? | The $158M acquisition of Carmudi Philippines in November 2019 is the largest acquisition CarDekho has made to date. |
| How many companies has CarDekho invested in? | CarDekho has invested in 2 companies, including CollegeDekho and CarDekho SEA. |
| What was CarDekho's last investment? | In December 2025, CarDekho invested in CollegeDekho's $10M strategic investment round. |
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