Used car marketplace Cars24 has launched a discovery platform to find nearby driving schools, Car24 Driving School, on its app
Launched a fortnight ago, the new offering is available in cities like Delhi NCR, Mumbai, Ahmedabad, Bengaluru, Chennai, among others, Inc42 has learnt
Cars24 declined to comment on Inc42’s queries about the new launch
Used car marketplace Cars24
has launched a discovery platform to find nearby driving schools, Car24 Driving School, on its app.
Launched a fortnight ago, the new offering is available in cities like Delhi NCR, Mumbai, Ahmedabad, Bengaluru, Chennai, among others, Inc42 has learnt.
According to people aware of the matter, the startup began testing the service at the end of last year. Currently, Cars24 is not charging any listing fees from these driving schools. However, this might change if the offering gains traction.
“The company wants to become a one-stop service provider for car owners by offering all ancillary services related to cars,” one of the persons aware of the matter said.
Cars24 declined to comment on Inc42’s queries about the new launch.
Last year, the startup launched a host of car-related services, including hiring drivers, car scrapping, car management system, a dashboard to track PUC, challans, insurance, and service history, a vault to store documents, among others.
Earlier, the startup also called its application a super app.
Founded in 2015 by Gajendra Jangid, Vikram Chopra, Ruchit Agarwal, and Mehul Agrawal, Cars24 operates a marketplace for buying and selling used cars in India, Australia, and the UAE. It also provides financing for buying cars.
The startup competes against the likes of CarTrade, CarDekho, Spinny, and Droom.
Cars24 has raised over $1.3 Bn in funding to date and counts marquee names such as Alpha Wave, DST Global, Peak XV Partners, SoftBank, and Alibaba, among others, as its investors. It was last valued at $3.3 Bn when it raised $400 Mn in 2021.
On the financial front, the startup’s operating revenue jumped 25% to INR 6,917.1 Cr in FY24 from INR 5,529.6 Cr in the previous year due to increase in unit sales and average selling price per car. Its net loss jumped 7% to INR 498.4 Cr from INR 467.7 Cr in FY23.