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Tag: Vinay Sanghi

  • OLX India taps Olive Sen to power up its horizontal play

    OLX India taps Olive Sen to power up its horizontal play

    MUMBAI: Olx  India is shaking up its leadership ranks with the return of Olive Sen as chief business officer – horizontal business unit (non-autos). In his new avatar, Sen will drive growth across the platform’s sprawling classifieds empire—from jobs and property to mobiles and electronics—as Olx eyes deeper user engagement and scale.

    Sen is no stranger to the classifieds game. With over a decade in the consumer internet trenches, including six-plus years at Olx group, he knows the platform inside out. His previous tour of duty saw him head product, marketing and analytics—turbocharging user growth and monetisation along the way.

    He returns to Olx after a stint as chief product officer at BetterPlace, a workforce tech platform, and earlier roles at Thinkfoods.in and NYX. An IIT Kharagpur alum, Sen cut his teeth at Nissan Motors and ZS Associates before shifting gears into product strategy.

    CarTrade Tech chairman & founder Vinay Sanghi rolled out the welcome mat. “Said he: “We are excited to welcome Olive back to Olx.  His deep understanding of the platform, coupled with a strong strategic vision, makes him the ideal leader to drive our horizontal business unit (non-autos) business forward. We are confident that his leadership will unlock new avenues of growth and significantly enhance user engagement in these categories.”

    Sen, for his part, is raring to go. Said he: “I’m excited to return to Olx India at a time when the classifieds space is evolving rapidly. The non-autos categories—from consumer goods to real estate and jobs—represent a massive opportunity to build for scale and depth. I’m looking forward to working with the incredible team at Olx  to unlock this potential and deliver meaningful experiences for our users.”

    The move fits into Olx ndia’s broader playbook—building a one-stop, trusted bazaar for everything under the digital sun. With over 35 million monthly visitors and more than 30 million listings a year, Olx  is already a heavyweight. Now, with Sen back at the helm, the platform is betting big on becoming India’s go-to marketplace for all things secondhand (and sensible).

  • CarTrade secures Rs 950 crore funding for expansion in online auto industry

    CarTrade secures Rs 950 crore funding for expansion in online auto industry

    MUMBAI: Indian online auto classifieds platform CarTrade has raised Rs 950 crore led by Temasek, an investment company based in Singapore, and March Capital, a global venture investment firm.

    Existing investor Warburg Pincus, a private equity firm focused on growth investing, also participated in the process. This injection of capital will be utilised to diversify and strengthen CarTrade’s offerings for consumers and dealers.

    Following its recent combination with Carwale, CarTrade has also strengthen its presence in the market. “It has over 32 million visits per month and work with approximately 10,000 new and used car dealer partners. The platforms list more than 225,000 used cars for sale and auctions over 250,000 vehicles to the wholesale market every year. CarTrade and CarWale jointly contribute to a majority of all online sales for  car dealers and car manufacturers,” the company said in a statement.

    “We are extremely happy to have Temasek and March Capital on board as partners together with existing investor, Warburg Pincus. This investment is a validation of CarTrade’s business model and growth plans in the Indian online auto space. The funds raised shall be used to further expand our services organically and through acquisitions. We will continue to focus on products, services and strengthening our world class technology capabilities and platforms, to deliver a seamless online experience for auto enthusiasts across the country,” said CarTrade founder and chief executive officer Vinay Sanghi.

    CarWale CEO Mohit Dubey added, “These are exciting times for us as the e-commerce sector is at a broad confluence of multiple macro trends. We are very excited about the opportunities presented by sector in India and are well positioned to leverage these opportunities. At this stage of growth we welcome Temasek and March Capital and this new financing will provide CarTrade with a strong foundation for future growth.”

    March Capital managing director Sumant Mandal said, “At March Capital we believe that the greatest companies oftomorrow are being built now. CarTrade has developed a unique and a world class platform for transacting in new and used vehicles. A leader in its segment, it has steadily expanded its offerings across India and today has an extremely strong network dealer partners with a rapidly growing user base. We continue to be impressed by the team’s dynamism, passion, energy and vision and look forward to working closely with the team to support the company in achieving its growth ambitions.”

    Existing investors of CarTrade, which was founded by Vinay Sanghi in 2009, include Warburg Pincus, JP Morgan and Epiphany Ventures.

  • CarTrade.com raises Rs 185 crore

    CarTrade.com raises Rs 185 crore

    MUMBAI: Online auto classifieds platform CarTrade.com has raised Rs 185 crore to diversify and strengthen the portal’s offerings for consumers and dealers.

     

    The infusion of capital was led by an affiliate of Warburg Pincus along with participation from existing investors Canaan Partners and Tiger Global.

     

    Speaking about the fund raising, CarTrade.com founder and CEO Vinay Sanghi said, “We are extremely happy to have Warburg Pincus on board as a partner. The funds raised shall be employed to further expand our services to help us offer our consumers and dealers a seamless online experience.

     

    “We also plan to focus significantly on the mobile space and provide products and services, which will be best in class and in many cases the first of its kind,” he added.

     

    CarTrade offers a selection of over 100,000 listings, price information and certification for used cars. For new buyers, it offers reviews, on-road prices, car comparisons and latest auto news.

     

    Warburg Pincus is focused on growth investing and has over $ 39 billion in assets under management spanning over 125 companies.

     

    “We see tremendous potential in the Indian automobile market. CarTrade is one of the most innovative platforms in the online auto sector, and has shown strong growth momentum in the last couple of years. Warburg Pincus is excited about the opportunity to partner with a very talented team to further build on its position and to accelerate its growth plans,” commented Warburg Pincus India managing director Nitin Nayar.

     

    CarTrade is promoted by former head of Mahindra First Choice Sanghi and Nirvana Venture Advisors ex-managing director and eBay India former country head Rajan Mehra.