In November 2020, Cars24 pulled off something most startups can only dream of. Within just five years of its inception, the used cars startup achieved unicorn status, buttressed by a $200 million funding round in a pandemic year. Perhaps more impressively, it was an inbound investment. Hong Kong-based DST Global, the investor that led the round, approached Cars24.
It’s certainly cause for celebration, but Cars24’s co-founder and chief financial officer Ruchit Agarwal only sounds tired.
“If someone had told us in 2015 that we’d go through all these crises, we wouldn’t have entered the market in the first place,” he tells The Ken.