CarDekho Group, established in 2008 by Amit and Anurag Jain, operates in various sectors including used car reselling through CarDekho.com, insurtech via InsuranceDekho, fintech through Rupyy, and shared mobility with Revv.
SUMMARY
CarDekho is leveraging its services such as advertising, lead management, and digital content solutions to enter the used car market in the UAE.
The Jaipur-based unicorn also operates in Southeast Asia under the brand OTO in Indonesia and Carmudi and Zigwheels in the Philippines.
The company successfully reduced its consolidated loss by 40%, bringing it down to INR 340 Cr year-on-year.
CarDekho Group has made its foray into the United Arab Emirates (UAE) market in collaboration with Egypt’s Raya Holdings. The startup announced its strategy to utilize its advertising, lead management, and digital content solutions to establish a foothold in the UAE’s used car sector. Additionally, it plans to adapt its insights and lead management systems to align with the specific needs of consumers in the region.
Beyond India, the Jaipur-based unicorn has already established a presence in Southeast Asia, operating as OTO in Indonesia and Carmudi and Zigwheels in the Philippines.
In the UAE, CarDekho intends to offer the same range of services it provides in Southeast Asia, while also exploring new offerings such as auto insurance and extended warranties tailored to the local market.
Financially, CarDekho managed to decrease its consolidated loss by 40% to INR 340 Cr year-on-year for the fiscal year 2023-24 (FY24). However, operating revenue saw a decline of 3.5%, falling to INR 2,250.4 Cr from INR 2,331.9 Cr in FY23.
