wordpress blog stats
Connect with us

Hi, what are you looking for?

MotorExchange Raises $13 Million In Series C Funding

MotorExchange, a used vehicle online marketplace has raised $ 13 million in a Series C funding round led by Tiger Gobal Management and returning investor Canaan Partners.

MotorExchange is B2B platform that allows buyers and sellers to carry out transactions of used vehicles. Typical sellers include banks, insurance and leasing companies, corporate, automotive dealerships and consumers whereas buyers are used vehicles dealers. MotorExchange competes with eBay India’s B2B business for motors.

It also has a Reserve Price Auction under which a seller decides the minimum price at which the vehicle will be accepted. The company claims to have certified vehicles, authenticating the condition of the car to facilitate transactions for buyers and sellers. The site is primarily meant for business buyers whereas for the individual buyers there is CarTradeIndia, which is owned by the company.

This is the second funding round that the company has announced this year alone – in January, it had announced raising $5 million from Epiphany Ventures and Canaan Partners; A Series A round of funding had also been announced by the company in December 2009, from Canaan Partners .

You May Also Like


Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth...


The Federation of All India Vyapar Mandal (FAIVM), a pan-India body of traders and retailers, has recommended that the government impose a tax of...


The Department for Promotion of Industry and Internal Trade (DPIIT) has forwarded complaints against Amazon and Flipkart, made by traders body Confederation of All...


The Competition Commission of India has sought information from sellers body AIOVA on the alleged preferential treatment that Amazon gives to certain large sellers,...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ