Pre-owned vehicles company Cars24 has announced that its financial arm, Cars24 financial services (CFS), has registered a 100 percent year-on-year growth in loan disbursements and surpassed Rs 2,000 crore loan disbursement milestone since inception.
Cars24 obtained an NBFC licence in 2019, and offers end-to-end support and hassle-free financing options for cars. At present, the company is present in over 100 cities across the country.
Ruchit Agarwal, the co-founder and Chief Financial Officer of Cars24, has set an ambitious target of crossing Rs 3,000 crore by the end of the year in loan disbursements.
He expressed confidence in achieving this goal and emphasised the company's consistent growth trajectory. Agarwal stated, “Despite being relatively small compared to other financial institutions in India's car market, our upward trajectory has been consistent since our inception. While March was an outlier in terms of this trend, both April and May showed further growth. Regardless of any market seasonality, we remain committed to sustaining our upward momentum.”
Happilo, a dry fruit snacking company, aims to achieve a milestone of Rs 2,000 crore within the next three years, according to the founder and CEO Vikas D Nahar. In an interview with CNBC-TV18's Aishwarya Anand, Nahar stated that they are not currently seeking any additional funding and expressed their strong focus on the Bharat market for future growth opportunities.
Good Flippin' Burgers has successfully raised $4 million in a series A round from Tanglin Venture Partners, intending to accelerate their growth. To gain a larger market share in the fiercely competitive burger industry, startup street interviewed the co-founders of Good Flippin' Burgers, Viren D'Silva and Sid Marchant, to delve into their strategies and upcoming menu offerings.
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