CarDekho targeting Southeast Asian countries for expansion
CarDekho, the flagship portal of GirnarSoft, is looking to expand presence to Southeast Asian countries. Ratan Tata-backed company is eyeing the Philippines, Malaysia and some other Southeast Asian countries to expand the footprint.
Currently, CarDekho operates in Indonesia in the name of OTO, which has become the number one site for cars. The firm is trying to replicate its business and expand in other countries as well.
CarDekho group also expects to double its revenue to about Rs 700 crore during the current fiscal from Rs 360 crore last year.
Recently, CarDekho Gaadi store, a retail auction model for pre-owned cars, launched five stores, in line with its plans to establish 200 Gaadi stores across India by 2020.
CarDekho had raised Series C funding of $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank in January. The company then said that the fresh capital will be used to enhance focus on the used-car segment of the market and build a strong foundation in transaction services, including insurance, and financing.