Forbes features CarTrade.com among 10 sharply focused ecommerce players in India

Thursday 19 March 2015, 15:00 PM by

CarTrade.com has gained a mention among the top 10 sharply focused ecommerce players in India list released by Forbes, a leading business magazine that features articles on finance, industry and investing and marketing. Apart from CarTrade.com the other 9 companies that have featured on the list are – BookMyShow, Paytm, Pepperfry, Lenskart, Olacabs, Housing, CaratLane, BigBasket and Policybazaar. Forbes India had picked up the top ten ecommerce players reports from various industry verticals including bankers, private equity investors, venture capital firms and angel investors.

Forbes features CarTrade.com among 10 sharply focused ecommerce players in India | CarTrade.com
Forbes features CarTrade among 10 sharply focussed ecommerce players in India

CarTrade.com being one of the leading players in the Indian automotive sector has managed to raise about $44 Million. Apart from latest news coverage on our portal, we have also listed on-road new car prices along with reviews and comparison with other models. Moreover, interested used car buyers also have an opportunity to glance upon the widest range of used cars listed across categories. Commenting more on the portal, Vinay Sanghi, CEO CarTrade.com, said, “We have about 1.45 lakh listing on the site, four times that of any competition.” The company has about 110 engineers who conduct 125 point check on every car. This indeed makes it a first company to offer consumer certification and repair estimates. Adding further, Mr. Sanghi said, “We were the first ones to enable intercity buying of cars. We got down to collating and bringing dealers fom across the country on the platform.”

The company also operates a B2B auction portal under the name CarTrade Exchange which is used by banks and other institutions to sell cars in bulk. The company stands strong with an objective to sell and buy cars based on innovative B2B exchange module. Commenting more on the occasion, Alok Mittal, Ex-MD at Cannan Partners who have invested in CarTrade.com, said, “If you take any geography in the world which has more internet users than India, for instance the US, UK and China, there are multimillion dollar companies in the used car space.” The used car sector has been witnessing a steady growth and is indeed seen as the next billion dollar industry.

Source: Forbes India

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