SNAPPY 70M CAPITAL SERIES

The company has also added two new Executives to its leadership team - Alison Sagar, former UK CMO from PayPal ( News - Alert) and Amy Stoldt, former SVP of people from Peloton.Ĭo-founders, Hani Goldstein and Dvir Cohen, set out to build a gifting platform that would overcome the difficulties of sending personal gifts in a simple, fun and stress-free way. Hans Tung, managing partner at GGV Capital, whose portfolio includes the likes of Affirm, Airbnb, Coinbase, Peloton, Slack, StockX, TikTok and Wish, will join Snappy's board as part of the round.

SNAPPY 70M CAPITAL SERIES

However, the company didn’t reveal actual numbers of the growth.Snappy completed a $70 million Series C funding round, bringing total funding for the company to over $100 million.

Sequoia India is glad to welcome Ping An and Sunley House to this partnership, and we are excited to deepen our support and commitment to the CarDekho team in its journey to make car buying and selling a more convenient and efficient experience for Indian consumers,” said Shailesh Lakhani, Managing Director, Sequoia Capital India Advisors.ĭespite the slowdown in new auto sales across the country, CarDekho claims that its new auto business segment posted a significant growth of 30 percent. “CarDekho continues to execute very well on its ecosystem strategy across the used and new auto space. We look forward to supporting CarDekho by providing access to our global network and experience in building high-growth businesses.”ĬarDekho recently announced its H1 results for FY 19-20, and claimed that the overall revenue of the company achieved a year-on-year growth of 92 percent over the first half of the last fiscal year, and stood at $28 million. “With a significant share of the auto industry’s digital ad spending, we believe the company is poised for strong growth as advertising in India increasingly moves to digital channels. Mohammed Anjarwala, Managing Director at Sunley House Capital Management, said, The Group also works in collaboration with more than 10 financial institutions and 18 insurance companies across the country to facilitate used car financing and insurance to provide a seamless experience for both buyers and sellers. We have been extremely impressed with the business CarDekho has built in India, particularly its success in developing different types of financial services offerings to address car buyers’ needs,” said Donald Lacey, Managing Director and COO of the Ping An Global Voyager Fund.

“Auto services are a core component of Ping An’s ‘finance + ecosystem’ strategy, reflected in our majority shareholding in Autohome in China. This fund raise comes less than a year after the company announced raising $110 million in Series C round from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm), and Axis Bank.Īt present, CarDekho claims to actively work with over 4,000 new auto dealerships and 3,000 used car dealers across India. With the latest fundraise, we will continue to strengthen our domestic and international businesses and will aggressively work towards becoming the largest personal mobility ecosystem in the country.” Our unique automobile ecosystem helps us provide compelling value propositions to the consumers and engage with them through our various transaction models at one platform. “As a leading full-stack autotech company in India, we at CarDekho are committed to helping consumers throughout their car buying and selling journey.

Speaking on the fundraise, Amit Jain, CEO and Co-Founder, CarDekho, said, It launched its Indonesia operations in 2016 under the brand name OTO.com. In the last week of November this year, CarDekho started its operations in the second country in Southeast Asia by acquiring the Philippines operations of Carmudi. With this latest round, CarDekho has raised more than $250 million in funding till date. Additionally, CarDekho marks Global Voyager Fund’s first investment in India.ĬarDekho Co-founders Anurag Jain and Amit JainĪccording to CarDekho, the funds will be used to further strengthen its transaction businesses and expand its international footprint. Sunley House Capital Management, a subsidiary of global private equity firm Advent International, also participated in the round along with existing investors Sequoia India and Hillhouse. Jaipur-headquartered automobile classifieds platform CarDekho on Thursday said it has raised $70 million in Series D round led by Ping An’s Global Voyager Fund.

Snappy 70m capital