Used Car Marketplace Cars24 gets investment from MS Dhoni

CARS24, one of India’s fastest growing tech-enabled used car companies, has announced a strategic partnership with cricketer Mahendra Singh Dhoni. The move will elevate and strengthen the brand as it continues to expand across markets. 

Under this partnership, Dhoni will own equity in the Gurugram-based company and will act as its brand ambassador. Dhoni’s investment is a part of its Series D round of funding. 

Vikram Chopra, Co-Founder and CEO, CARS24, said, “We are very excited to welcome Mahi into the CARS24 family. He is a role model and hero to most Indians. His ability to constantly evolve, innovate and find solutions to every problem thrown at him over the years have made him the most celebrated captain in the Indian history. It’s the same of values that we live by at CARS24 and therefore the partnership felt natural and perfect. We also share a common love for cars which makes this even more special.”

Dhoni added, “I am thrilled to be part of the CARS24 journey. Besides being a fan of all things to do with cars, I am also a fan of new-age companies that are disruptive, innovative and shaping the future. CARS24 is definitely one of these companies. They have big ambitions and I am excited to work with them and help them achieve their goals.”

CARS24 was founded in 2015. It is the largest platform for buying and selling cars in India, having revolutionised the way pre-owned cars are sold in the country.

Recently, the company has forayed into the franchise model and intends to scale up its presence in over 300 tier two, three, and four markets by 2021.