Sharing the company’s H1FY26 financials in a post on X, Chopra said, “Hoping to go for the IPO in 6-12 months from now. We have built momentum. Now we compound it. It is a huge market of $200 bn +…”
Chopra said the company has gone beyond a buy/sell platform a year and a half ago to an end-to-end vehicle ownership platform, debuting products like insurance, challan payments, CarTruth (pre-delivery inspections and vehicle history reports ) and buyback. “This led to Rs 94 crore GMV in H1 with transaction becoming 19x on our platform,” his post read.
“With the CarInfo acquisition, we are doubling down on this high gross margin segment in a big way,” he added. The SoftBank-backed company earlier this month acquired Delhi-based vehicle information management startup CarInfo.
Gurugram-based Cars24 also counts Alpha Wave Global, DST Global, and Peak XV Partners among its backers and competes with Accel-backed Spinny, which acquired vehicle servicing platform GoMechanic late last year.