Indian CARS24 raises $20m from the Commercial Bank of Dubai

Arab News | Dec 1, 2021 at 1:13 PM
  • India-based automotive e-commerce platform CARS24 raised 75 million dirham ($20 million) in local debt funding from the Commercial Bank of Dubai.
  • The debt funding fuels the company’s operational expansion in the UAE and provides it with significant funding flexibility, Wamda reported.
  • The funding came following CARS24 ‘s $450 million funding round last September, and its announcement of further investing $23 million in the UAE and other GCC countries to expand its presence.