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Cars24 to drive into personal loan space
Mint New Delhi
|February 21, 2025
Cars24's revenue from operations increased by 25% to ₹6,917 crore in FY24, compared to ₹5,530 crore in the previous year
Used cars marketplace Cars24, which has been offering financing options to customers purchasing cars from its platform, is evolving into a comprehensive lending platform, a top executive of the company told Mint.
The company will now offer car and personal loans to buyers beyond its platform, and will also help customers track and improve their credit scores through its newly launched platform, Loans24.
"Car buying is not a beautiful process in India, which we've been trying to solve for the last few years," said Ruchit Agarwal, co-founder and chief financial officer at Cars24.
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