IPO-Tied CarDekho To Inject $100 Million Into Its Fintech Branch, Rupyy


IPO bound car search platform AutoDekho Group said Monday it aims to inject $100 million into its Fintech entity called Rupyy in a mix of debt and equity.

Rupyy exceeded Rs 500 crore of monthly auto loan disbursement volume in September. The brand plans to pay Rs 10,000 crore on an annual basis by March 2023.

As part of its initial rollout plan, the company will focus on EV financing and is building pan-Indian partnerships with OEMs in the space.

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“This infusion of our parent company will amplify the multiplicity of processes. As we continue to expand across industries and enter new regional markets, we aim to represent 35-40 percent of the segment’s market share,” said Namit Jain, co-founder. and CEO, Rupyy.

The infusion is slated to scale NBFC business and technology and launch new product categories, said CarDekho, which raised $250 million last October, bringing the valuation to $1.2 billion and the 31st unicorn of 2021. the country became.

Rupyy recently unveiled India’s largest QR code-based loan platform, which is available to more than 2,200 car dealers and distributors across the country.

The brand also launched the new category of car loans and expanded it to a monthly disbursement rate of Rs 50 crore in a few months.

“Rupyy is already in a strong growth trajectory and with this infusion, it is poised to disrupt our country’s entire used car financing and take it to a whole new level,” said Amit Jain, Co-Founder and CEO of CarDekho Group.

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