SoftBank-backed used car platform Cars24 announced the acquisition of Delhi-based vehicle information management startup CarInfo. Financial details of the transaction were not disclosed.
People in the know pegged the cash and stock deal at Rs 400-425 crore.
This is Cars24’s second acquisition in the past year after the April 2025 purchase of community platform TeamBHP.
Announcing the deal on X, Cars24 founder and chief executive Vikram Chopra said, “CarInfo (and Bikeinfo) were built around a very practical insight: vehicle management for cars and bikes has remained complex as information is scattered across systems. CarInfo focused on addressing this by making vehicle information instantly accessible while reducing cognitive load, so owners could get what they needed easily. Carinfo has become the go-to platform for more than 12 million users every month to solve their vehicle needs”.
Chopra did not comment on the deal size.
One of the persons cited above said Cars24 has been looking to add more frequent use-cases to its offering. “Car purchase is a once in five year event…but managing insurance renewals, getting pollution certificates issued, and paying challans happen more often. That brings in steady user engagement to the platform,” the person said.
While CarInfo, founded by Sahil Ajmani in 2019 and bootstrapped, will continue to operate as a standalone app, it will also be a part of Cars24’s superapp offering. “We have always believed in simplifying car ownership and together we can make it a 100x better experience for vehicle owners. Carinfo will continue as a standalone app with its own team,” Chopra wrote in his post.
Cars24 had in 2024 launched a superapp consolidating ancillary services such as vehicle repairs, financing, on-demand chauffeur booking, and service history records in a bid to monetise its consumer base built through pre-owned car sales.
Gurugram-based Cars24, which also counts Alpha Wave Global, DST Global, and Peak XV Partners among its backers, is planning for a public listing in the coming years. It rivals Accel-backed Spinny, which acquired vehicle servicing platform GoMechanic late last year – marking another consolidation move in the space.
Digital publication Medianama first reported about Cars24 acquiring CarInfo.
For fiscal 2024, Cars24 posted a 25% rise in operating revenue at Rs 6,917 crore, driven mainly by higher unit sales and increase in average selling prices. However, net loss during the year widened to Rs 498 crore, from Rs 468 crore in FY23.
The company has yet to file its financials for the year ended March 31, 2025.
