Cars24 has launched a ₹75 crore yearly ESOP Buyback to reward its employees
- ByStartupStory | February 24, 2022
Cars24, a pre-owned automobile e-commerce platform, has launched a ₹75-crore yearly ESOP Buyback to reward its employees. Cars24’s entire ESOP buyback value is estimated to be at ₹113 crores. Cars24 secured $400 million in a Series G investment headed by Alpha Wave Global in December 2021.
Cars24 is a worldwide e-commerce network for pre-owned automobiles that was founded in 2015 and has a strong presence in India, the Middle East, Australia, and Southeast Asia. Cars24’s objective is to change the used automobile business by bringing the complete path of browsing, buying, selling, and financing online, with a consumer-first approach. Cars24 has also established a number of state-of-the-art Mega Refurbishment Labs throughout the country to help achieve this goal.
Cars24 raised $400 million in its Series G round of fundraising in December of last year, valued at $3.3 billion. In September, the business secured $450 million at a $1.84 billion value in a prior investment round.
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