Cars24 raises Rs 100 Cr debt round from Trifecta

Cars24 has raised Rs 100 crore in a debt round from Trifecta Capital and the fresh infusion has come after seven months of the company’s $200 million equity round that made it the first unicorn in the used car space. The proceeds are likely to be used in buying cars from customers. For the uninitiated, Cars24 buys used four-wheelers and bikes from consumers and sells them to dealers through the auction model.