When was CarWale founded?

CarWale was founded in 2003 and raised its 1st funding round 3 years after it was founded.

Where is CarWale located?

CarWale is headquartered in Mumbai, India. It is registered at 12th Floor Vishwaroop IT Park Sector 30A, Vashi, Thane, Navi Mumbai, Maharashtra, India, 400705.

Which legal entities is CarWale associated with?

CarWale is associated with AUTOMOTIVE EXCHANGE PRIVATE LIMITED and 1 other.

How many employees does CarWale have?

As of Mar 31, 2025, CarWale has 1150 employees, reflecting a 16% year-over-year growth in headcount.

Is CarWale a funded company?

CarWale is a funded company, having raised a total of $5.85M across 4 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Aug 09, 2006.

How much is CarWale worth?

The last known valuation of CarWale was $***** as of Nov 12, 2015.

When was the latest funding round of CarWale?

CarWale's latest funding was a $***** Series A round on Jan 24, 2014, with participation from 1 investor. Its primary sector is Auto E-Commerce & Content. In India, the Auto E-Commerce & Content sector has seen $119M in funding in 2026 to date.

What is the annual revenue of CarWale?

Annual revenue of CarWale is between ₹500 Cr and ₹1,000 Cr as on Mar 31, 2026

Where does CarWale rank among its competitors?

CarWale ranks 5th amongst 194 active competitors, of which 11 are funded. It stands 7th in terms of total funding among its competitors. The most recent competitor to raise funding was Spinny, which secured $90M in Dec, 2025.

Who are the top competitors of CarWale?

CarWale's top competitors include Cars24, CarDekho and Spinny. Among them, Spinny secured the most recent funding round in December, 2025.

CarWale - 2026 Company Profile, Team, Funding, Competitors & Financials

Q: Is CarWale an acquired company?

CarWale got acquired by CarTrade on Nov 12, 2015.

Company Details

Online listing platforms that facilitate the sale of second-hand cars. The platform enables consumers to research various brands of cars, pricing, and insurance policies and serves as a listing platform to connect buyers and sellers of cars. Their app is available for iOS and Android devices.

Website: www.carwale.com/
Social
Email ID: *****@carwale.com
Phone Number: +91 **********
Part Of
Registered Address: 12th Floor Vishwaroop IT Park Sector 30A, Vashi, Thane, Navi Mumbai, Maharashtra, India, 400705

Key Metrics

Founded Year

2003

Location

Mumbai, India

Stage

Acquired

Total Funding

$5.85M in 4 rounds

Latest Funding Round

Series A, Jan 24, 2014, $*****

Last Known Valuation

$***** as on Nov 12, 2015

Investors

SVB & 13 more

Ranked

5^th among 194 active competitors

Annual Revenue

₹500 - ₹1,000 Cr as on Mar 31, 2026

Employee Count

1,150 as on Mar 31, 2025

Similar Companies

CarDekho & 1007 more

Exit Details

Acquired by CarTrade (Nov 12, 2015)

View CarWale's full profile

CarWale is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
Cartrade Tech Limited CIN: L74900MH2000PLC126237 , India, Active	Apr 28, 2000	₹500 - ₹1,000 Cr (As on Mar 31, 2026)	1096 (As on May 31, 2026)
AUTOMOTIVE EXCHANGE PRIVATE LIMITED CIN: U72200MH2003PTC244158 , India, Amalgamated	Jan 16, 2003	₹50 - ₹100 Cr (As on Mar 31, 2019)	431 (As on Mar 31, 2020)

CarWale got acquired by CarTrade on Nov 12, 2015 at an acquisition amount of $*****.

Click here to take a look at CarWale's acquisition in detail

CarWale has raised a total funding of $5.85M over 4 rounds. Its first funding round was on Aug 09, 2006. Its latest funding round was a Series A round on Jan 24, 2014 for $*****. 1 investor participated in its latest round. CarWale has 7 institutional investors and 7 angel investors.

Here is the list of recent funding rounds of CarWale:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 24, 2014	4207851	Series A	7447470	3577523	3275973	7765305
Nov 29, 2010	7876388	Series A	4430202	3694575	4718600	6174414
Oct 10, 2008	8233322	Series A	2728053	3336763	Sierra Ventures	1667201

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View details of CarWale's funding rounds and investors

The founders of CarWale are Mohit Dubey, Gaurav Verma and Arun Kumar Sahlam.

Here are the details of CarWale's key team members:

Mohit Dubey: Co-Founder of CarWale. They are also an angel investor in 5 startups and serve on the board of 1 company.
Contact Info: 1 email address
Gaurav Verma: Former Co-Founder of CarWale. They serve on the board of 1 company.
Arun Kumar Sahlam: Former Co-Founder of CarWale and founder of 1 other company.

CarWale's Board of Directors

CarWale's board has 3 active members. Mohit Dubey is part of team and Rajeev Kumar and Siddharth Narayan are independent board members.

Here is the list of CarWale's board of directors:

Name	Type	Representing	Status	Duration
Mohit Dubey	Team	-	Current	19y 1m
fewggvr	Team	-	Past	1y 8m
s{rhctk	Team	-	Past	9y 8m
xmspkiw	Investor	-	Past	3y 3m
tvhqxmp	Investor	eajnyae	Past	1y 6m
Rajeev Kumar	Independent board member	-	Current	9y 1m
jwap{zy	Independent board member	-	Current	7y 2m
htuflli	Independent board member	-	Past	8y 2m
ugwyxzf	Independent board member	-	Past	5y 8m
flyoobt	Independent board member	-	Past	5y 8m
cfkhmhc	Independent board member	-	Past	2y 5m

View details of CarWale's Founder profiles and Board Members

CarWale's employee count trend

CarWale has 1,150 employees as of Mar 25. The total employee count is 15.0% more than what it was in Mar 24. Here is CarWale's employee count trend over the years:

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Top competitors of CarWale include Cars24, CarDekho and Spinny. Here is the list of Top 10 competitors of CarWale, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Cars24 2015, Gurugram (India), Series G	Retailer of used vehicles, new vehicle information, loans, and related services	$1.08B	Alpha Wave Global, DST Global & 73 others	78/100
2nd	CarDekho 2008, Jaipur (India), Funding Raised	App based platform offering car buying, selling, and comparison services	-	CapitalG, Madison India Capital & 1 others	76/100
3rd	Spinny 2015, Gurugram (India), Series G	Retailer of inspected pre-owned vehicles with home delivery service options	$679M	Accel, Tiger Global Management & 56 others	76/100
4th	Droom 2014, Gurugram (India), Series G	Online retailer of used and new automobiles, plus related services	$344M	Digital Garage, Finvolve & 67 others	72/100
5th	CarWale 2003, Mumbai (India), Acquired	Online listing platforms that facilitate the sale of second-hand cars	$5.85M	Innoven Capital, Sierra Ventures & 12 others	72/100
6th	Truebil 2015, Mumbai (India), Acquired	Online P2P marketplace for used cars	$26.9M	Kalaari Capital, Shunwei Capital & 9 others	64/100
7th	CarTrade Tech 2006, Mumbai (India), Public	Online marketplace for used cars	$328M	Temasek, Canaan & 26 others	62/100
8th	ZigWheels 2008, Jaipur (India), Acquired	Online portal to find new and used car deals	-	-	60/100
9th	CarTrade 2006, Navi Mumbai (India), Unfunded	Operator of online marketplaces for buying and selling motor vehicles	-	-	59/100
10th	Mahindra First Choice 2007, Mumbai (India), Series C	Retailer of certified, pre-owned vehicles, providing inspection, warranty, and finance options	$72.3M	Valiant Mauritius Partners FDI, https://autobyte.co ... & 20 others	51/100

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Looking for more details on CarWale's competitors? Click here to see the top ones

Cartrade Tech Limited, the legal entity associated with CarWale, generated between ₹500 Cr and ₹1,000 Cr in revenue for the financial year ending on Mar 31, 2026. The revenue of Cartrade Tech Limited has a compounded annual growth rate (CAGR) of 22% in the last 1 year.

Financial Statement Summary

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22
Income Statement
Revenue	4266	7222	8159	2027	6230
Total Sales	1500	5263	4301	5628	7610
Total Expenses	6314	4877	7817	2381	4424
Operating Expenses	1766	4992	2594	7226	3968
Employee Expenses	7880	8130	9443	7638	7640
Marketing Expenses	5063	5782	3874	6392	7358
Operating Income (EBIT)	5853	2482	6074	7080	2846
Interest Expenses	4169	7723	1263	2435	3334
Expenses from other activities	3062	3089	9164	2193	1567
EBITDA	7572	1289	7882	3960	7029
Taxes	3020	8991	6331	1543	7357
Net Profit	2068	5301	5931	9642	9578
Balance Sheet
Assets	2048	7736	2959	7767	5399
Cash Equivalent	3874	9030	4479	6173	4834
Accounts Receivables	1909	8241	3114	1603	8610
Inventory	9871	2066	4895	6536	8189
Liabilities	1383	7640	6893	3725	2118
Total Debt	4522	3397	1307	1931	2543
Accounts Payable	6035	3711	7375	7035	8545
Equities	8068	5498	9167	2479	3280
Cashflow Statement
Cash from Operating activities	8825	2234	1106	1670	7019
Cash from Investing activities	7170	1731	7360	2673	9171
Net cash from Financing activities	6428	1844	8686	6210	8873

Detailed Financials (Income Statement, Balance Sheet, Cashflow Statement)

Founders own 7.57%, Funds own 0.00%, Enterprises (largest shareholder) own 79.36% and Angels own 0.00%. The net worth of CarWale's founders is INR 9.39Cr as of Jan 24, 2014. The cap table displayed below is for AUTOMOTIVE EXCHANGE PRIVATE LIMITED which is the legal entity associated with CarWale.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	7.57%	9.39Cr	8407260	7256248	5841121	7171935
Mohit Dubey	4299592	1725976	9689702	3719527	6376922	1408910
Fund	-	0	0	0	0	0
Seedfund	0	0	0	0	0	0
Sierra Ventures	0	0	0	0	0	0
SVB	0	0	0	0	0	0
Enterprise	79.36%	98.3Cr	4847869	4832479	5621226	1861592
Angel	-	0	0	0	0	0
Vikram Chachra	0	0	0	0	0	0
ESOP Pool	13.07%	16.2Cr	2016537	5676645	3042212	9014406
Total	100.00%	124Cr	8332388	8393672	5715889	4740286