Used-car marketplace CARS24 has acquired vehicle information platform Car Info - RTO Vehicle Owner App for an estimated Rs 118 crore, according to regulatory filings. The board has approved issuing 92,292 compulsorily convertible debentures as part of the transaction. Founded in 2019 by Sahil Ajmani, CarInfo has been bootstrapped since inception and counts over 12 million users. The app helps car and bike owners access key vehicle details, ownership records, and compliance information in one place. Strategic context: Cars24 said CarInfo will continue as a standalone app. The deal aligns with Cars24’s broader strategy to build an end-to-end vehicle ownership ecosystem, following launches like LOANS24 and the acquisition of Team-BHP, as auto-tech players ramp up consolidation ahead of potential IPO plans. Read more, from link in comments. By Sai Keerthi #Cars24 #CarInfo #AutoTech #StartupAcquisition #IndianStartups

Used-car marketplace CARS24 has acquired vehicle information platform Car Info - RTO Vehicle Owner App for an estimated Rs 118 crore, according to regulatory filings. The board has approved issuing 92,292 compulsorily convertible debentures as part of the transaction. Founded in 2019 by Sahil Ajmani, CarInfo has been bootstrapped since inception and counts over 12 million users. The app helps car and bike owners access key vehicle details, ownership records, and compliance information in one place. Strategic context: Cars24 said CarInfo will continue as a standalone app. The deal aligns with Cars24’s broader strategy to build an end-to-end vehicle ownership ecosystem, following launches like LOANS24 and the acquisition of Team-BHP, as auto-tech players ramp up consolidation ahead of potential IPO plans. Read more, from link in comments. By Sai Keerthi #Cars24 #CarInfo #AutoTech #StartupAcquisition #IndianStartups