Used-car market Cars24 has acquired Delhi-based car data and administration platform CarInfo, marking its second acquisition up to now 12 months after shopping for automotive neighborhood platform Group-BHP.
As a part of the deal, CarInfo will turn into a part of the Cars24 ecosystem and can proceed to function as a standalone app with its present workforce. BikeInfo operates as a part of the CarInfo platform.
Monetary particulars weren’t formally disclosed.
Saying the acquisition on X (previously Twitter), Cars24 founder and CEO Vikram Chopra mentioned car possession issues typically come from small however frequent points slightly than massive failures.
“CarInfo (and BikeInfo) have been constructed round a really sensible perception: car administration for vehicles and bikes has remained complicated as data is scattered throughout methods. CarInfo targeted on addressing this by making car data immediately accessible whereas lowering cognitive load, so house owners may get what they wanted simply,” he wrote.
He added that the platform “has turn into the go-to platform for greater than 12 million customers each month to resolve their car wants.”
Based in 2019 and bootstrapped, CarInfo helps customers entry key vehicle-related particulars equivalent to registration data, insurance coverage and air pollution certificates validity, challans, FASTag standing, and different compliance necessities, an areas that usually create friction as a result of fragmented authorities methods.
Chopra mentioned many possession points come up from routine oversights like expired paperwork or lacking data, and CarInfo was constructed to cut back this burden by making important data simply obtainable.
The acquisition matches into Cars24’s broader push to maneuver past simply shopping for and promoting autos and canopy the total possession lifecycle.
In 2024, the corporate launched a superapp that brings collectively providers equivalent to car repairs, financing, chauffeur reserving, and repair historical past data to higher monetise its shopper base.
Cars24 continues to scale its enterprise forward of a possible public itemizing. In FY24, the Gurugram-based firm bought over two lakh vehicles and reported working income of Rs 6,917 crore, up 25% year-on-year, pushed by increased gross sales volumes and higher pricing. Nevertheless, its internet loss widened to Rs 498 crore.