J. Sagar Associates (JSA) advised Cars24 (India’s leading e-commerce platform for pre-owned vehicles) in its Series F equity round of USD 340 million (approx. INR 2,500 crores).
The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2. The round also saw participation by Tencent and existing investors Moore Strategic Ventures and Exor Seeds. Alongside equity, Cars24 also raised a debt of USD 110 million.
Post this fund raise, Cars24 has nearly doubled its valuation to USD 1.84 billion.
The JSA Team comprised Lead Partner – Trisheet Chatterjee, Partners – Zain Pandit and Sarvesh Kumar Saluja, and Associate Aratrika Nandi.
Partner – Vaibhav Choukse, and Principal Associate – Ela Bali advised on competition law issues, Partner – Minu Dwivedi, and Associate – Shreya Chowdhury advised on employment law-related aspects.