When was Mahindra First Choice founded?

Mahindra First Choice was founded in 2007 and raised its 1st funding round 8 years after it was founded.

Where is Mahindra First Choice located?

Mahindra First Choice is headquartered in Mumbai, India. It is registered at GATEWAY BLDGAPOLLO BUNDER, Mumbai City, MUMBAI, Maharashtra, India, 400001.

Which legal entities is Mahindra First Choice associated with?

Mahindra First Choice is associated with MAHINDRA FIRST CHOICE WHEELS LIMITED.

How many employees does Mahindra First Choice have?

As of Jul 31, 2025, Mahindra First Choice has 683 employees, reflecting a 6% year-over-year growth in headcount.

Is Mahindra First Choice a funded company?

Mahindra First Choice is a funded company, having raised a total of $72.3M across 5 funding rounds to date. The company's 1st funding round was a $***** Series B round, raised on Mar 20, 2015.

How much is Mahindra First Choice worth?

The latest valuation of Mahindra First Choice is $***** as of Apr 25, 2022.

When was the latest funding round of Mahindra First Choice?

Mahindra First Choice's latest funding was a $***** Series C round on Apr 25, 2022, with participation from 3 investors. Its primary sector is Auto E-Commerce & Content. In India, the Auto E-Commerce & Content sector has seen $60.5M in funding in 2026 to date.

What is the annual revenue of Mahindra First Choice?

Annual revenue of Mahindra First Choice is between ₹100 Cr and ₹500 Cr as on Mar 31, 2025

Where does Mahindra First Choice rank among its competitors?

Mahindra First Choice ranks 12th amongst 166 active competitors, of which 8 are funded. It stands 6th 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 Mahindra First Choice?

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

Mahindra First Choice - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Retailer of certified, pre-owned vehicles, providing inspection, warranty, and finance options. The business offers a selection of used cars across various makes, models, and body types. Services include vehicle inspections, warranty products, and assistance with financing. The company facilitates the buying and selling of used vehicles through its network.

Website: www.mahindrafirstchoice.com/
Social
Email ID: *****@mahindrafirstchoice.com
Phone Number: +91 **********
Part Of
Registered Address: GATEWAY BLDGAPOLLO BUNDER, Mumbai City, MUMBAI, Maharashtra, India, 400001

Key Metrics

Founded Year

2007

Location

Mumbai, India

Stage

Series C

Total Funding

$72.3M in 5 rounds

Latest Funding Round

Series C, Apr 25, 2022, $*****

Post Money Valuation

$***** as on Apr 25, 2022

Investors

Mahindra & 22 more

Ranked

12^th among 166 active competitors

Annual Revenue

₹100 - ₹500 Cr as on Mar 31, 2025

Employee Count

683 as on Jul 31, 2025

Investment & Acquisitions

Carandbike

Similar Companies

Carro & 216 more

View Mahindra First Choice's full profile

Mahindra First Choice is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
MAHINDRA FIRST CHOICE WHEELS LIMITED CIN: U64200MH1994PLC083996 , India, Active	Dec 22, 1994	₹100 - ₹500 Cr (As on Mar 31, 2025)	689 (As on Aug 01, 2025)

Mahindra First Choice has raised a total funding of $72.3M over 5 rounds. Its first funding round was on Mar 20, 2015. Its latest funding round was a Series C round on Apr 25, 2022 for $*****. 3 investors participated in its latest round. Mahindra First Choice has 9 institutional investors and 14 angel investors.

Here is the list of recent funding rounds of Mahindra First Choice:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Apr 25, 2022	7884811	Series C	8026149	3672175	4515856	1516519
Oct 05, 2021	9822158	Series C	3539794	9811405	4941120	Manheim
Oct 12, 2020	6363824	Series C	2775490	8046121	6962964	Praveen Venkatraman Loganathan & 2 more

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View details of Mahindra First Choice's funding rounds and investors

The founders of Mahindra First Choice is Anand Gopal Mahindra. Ashutosh Sudhakar Pandey is the CEO of Mahindra First Choice.

Here are the details of Mahindra First Choice's key team members:

Anand Gopal Mahindra: Founder of Mahindra First Choice. They are also an angel investor in 3 startups and serve on the boards of 5 companies.
Contact Info: 1 phone number

Mahindra First Choice's Board of Directors

Mahindra First Choice's board has 11 active members. Anand Gopal Mahindra, Christopher Robert Hansen, Rajesh Ganesh Jejurikar, Ramesh Ganesh Iyer, Ashutosh Sudhakar Pandey and Pawan Kumar Goenka are part of team and Sanjay Labroo, Rajeev Bidyanand Dubey, Narendra Mairpady, Sangeeta Talwar and Rob Huting are independent board members.

Here is the list of Mahindra First Choice's board of directors:

Name	Type	Representing	Status	Duration
Anand Gopal Mahindra	Team	-	Current	26y 2m
Christopher Robert Hansen	Team	-	Current	11y 1m
Ashutosh Sudhakar Pandey	Team	-	Current	8y 2m
Joseph Luppino	Team	-	Current	10y 7m
pchsbvj	Team	-	Past	1y 1m
zlthvox	Team	-	Past	1y 2m
maythsp	Team	-	Current	3y 6m
dlspfrj	Team	-	Past	4y 8m
xvjfmgq	Team	-	Past	8y 3m
guwyzju	Team	-	Past	5y 9m
yziow{h	Team	-	Past	3y 5m
Sanjay Labroo	Independent board member	-	Current	24y 7m
pyiblpu	Independent board member	-	Current	3y 9m
wodhahh	Independent board member	-	Current	8y 4m
furizyd	Independent board member	-	Current	1y 7m
ehbrtxz	Independent board member	-	Past	6y 4m
yvaslkn	Independent board member	-	Past	6y 5m
rnu{ric	Independent board member	-	Past	2y 2m

View details of Mahindra First Choice's Founder profiles and Board Members

Mahindra First Choice's employee count trend

Mahindra First Choice has 683 employees as of Jul 25. The total employee count is 5.0% more than what it was in Jul 24. Here is Mahindra First Choice's employee count trend over the years:

Employee count trend for Mahindra First Choice

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

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Spinny 2015, Gurugram (India), Series G	Retailer of inspected pre-owned vehicles with home delivery service options	$698M	Accel, Tiger Global Management & 56 others	76/100
2nd	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	76/100
3rd	CarDekho 2008, Jaipur (India), Funding Raised	App based platform offering car buying, selling, and comparison services	-	Madison India Capital	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	74/100
5th	ACV Auctions 2014, Buffalo (United States), Series E	Online marketplace providing auction services for used vehicles to licensed dealers	$350M	Bessemer Venture Partners, Tribeca Venture Partners ... & 17 others	72/100
6th	CarWale 2003, Mumbai (India), Acquired	Online listing platforms that facilitate the sale of second-hand cars	$5.85M	Sierra Ventures, SVB & 12 others	72/100
7th	Truebil 2015, Mumbai (India), Acquired	Online P2P marketplace for used cars	$26.9M	Kalaari Capital, Shunwei Capital & 9 others	64/100
8th	CarTrade Exchange 2009, Mumbai (India), Series C	Operator of an online platform for vehicle auctions and listing services	$13M	Canaan, Tiger Global Management & 2 others	62/100
9th	CarTrade Tech 2006, Mumbai (India), Public	Online marketplace for used cars	$328M	Temasek, Canaan & 26 others	62/100
10th	ZigWheels 2008, Jaipur (India), Acquired	Online portal to find new and used car deals	-	-	59/100
12th	Mahindra First Choice 2007, Mumbai (India), Series C	Retailer of certified, pre-owned vehicles, providing inspection, warranty, and finance options	$72.3M	Valiant Capital, Valiant Mauritius Partners FDI ... & 21 others	51/100

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Founders own 0.13%, Funds own 32.29%, Parent Entities (largest shareholder) own 54.54% and Enterprises own 8.61%. The net worth of Mahindra First Choice's founders is INR 3.51Cr as of Apr 25, 2022.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	0.13%	3.51Cr	0	0	0	0
Anand Gopal Mahindra	0	0	0	0	0	0
Fund	32.29%	840Cr	6978342	9912960	1016893	4822606
Phi Capital	4191428	1109287	1375938	4257319	9920882	5743592
Valiant Mauritius Partners FDI	2889438	8417037	4618291	4752108	1310862	8327919
Parent Entity	54.54%	1,420Cr	4477391	8316943	7137876	5672604
Enterprise	8.61%	224Cr	7082289	4780193	9473485	4587453
Angel	0.12%	3.33Cr	0	0	0	0
Arun Uppuswamy	0	0	0	0	0	0
Other People	0.90%	23.4Cr	0	0	0	0
ESOP Pool	3.39%	88.3Cr	338	400	775	892
Other Investors	0.01%	20.7L	0	0	0	0
Total	99.99%	2,600Cr	5951755	5935193	6879172	2383011