Navis Capital and Dragon Fund Lead USD 60 Mn Investment in CarDekho SEA With the fresh funds, CarDekho SEA aims to enhance used vehicle financing, refinancing, and classifieds, focusing on Indonesia and the Philippines, while expanding inventory funding, auto insurance, warranties, and EV financing capabilities.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Amit Jain, Co-founder & CEO at CarDekho Group |LinkedIn

CarDekho SEA, the Southeast Asian subsidiary of CarDekho Group, has secured USD 60 million in its first external funding round, led by Navis Capital Partners and Dragon Fund. This round brings the company's cumulative funding to over USD 100 million.

The newly raised capital will bolster CarDekho SEA's capabilities in used car and bike financing, refinancing, and classifieds, with a particular focus on Indonesia and the Philippines.

The funds will also support inventory funding for distribution partners and fuel growth in complementary sectors, including auto insurance, extended warranties, and electric vehicle financing.

"With this financing round, we are proud to partner with Navis and Dragon Fund as we work towards redefining the auto financial services landscape in Southeast Asia," said Umang Kumar, Co-founder and CEO of CarDekho SEA. He added, "This investment validates our progress in Indonesia and empowers us to accelerate our expansion to become the region's largest auto financial services marketplace."

Founded in 2020 and headquartered in Singapore, CarDekho SEA operates in Indonesia, the Philippines, Malaysia, Thailand, and Vietnam.

The platform offers services such as used car financing, dealer inventory funding, and vehicle classifieds. Through its brands, including OTO Indonesia, Carmudi Philippines, and Zigwheels Philippines, CarDekho SEA claims to have disbursed over 200,000 loans, achieving a gross merchandise value (GMV) of over USD 1 billion.

The company claims a 50x growth over three years, with monthly online traffic surpassing 5 million visits in Indonesia and 2 million in the Philippines. In Indonesia, CarDekho SEA commands a 3% market share in used auto financing, collaborating with over 40 financiers and 20,000 dealers.

CarDekho Group, established in 2008, boasts a robust portfolio of insurtech and fintech brands, including InsuranceDekho and Rupyy. The group generates an annual auto financial services GMV of USD 2 billion, insurance GMV of USD 500 million, and a revenue run rate of USD 400 million.

With this funding, CarDekho SEA aims to solidify its position as Southeast Asia's leading auto financial marketplace, driving innovation and expanding its footprint across the region.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

How I Replaced a $2,000-a-Month SEO Agency and Built My Own Growth System as a Solo Founder

15 proven tactics I used to grow my startup's visibility and backlinks — without writing a single cold email.

Real Estate

How to Attract More Clients, Tenants and Investors to Your Real Estate Business

These effective lead generation strategies will help grow your real estate business.

News and Trends

Stanford Flags Key Gaps in India's AI Journey Despite Rapid Growth

In 2024, India has emerged as the second-largest contributor to AI-related GitHub projects, accounting for 19.9% of global contributions, trailing only the US (23.4 %) and ahead of Europe (19.5 %)

Business News

Google Layoffs Affect Hundreds in Division Working on Chrome Browser, Pixel Phones

A Google spokesperson said the move would help Google run more efficiently.

Business News

A Jeff Bezos-Backed 'Secretive' Electric Vehicle Startup Is Reportedly Making an Affordable Truck — and It Was Just Spotted in Los Angeles

Jeff Bezos is reportedly backing a company called Slate Auto — and an announcement about the business, and its $25,000 EV truck, is coming this month.