Mahendra Singh Dhoni, former captain of the Indian national cricket team, has invested in Gurugram-based CARS24, which is a tech-enabled used card companies platform. The partnership will strengthen the brand as its continues to expand across markets.
While, as part of this partnership, Dhoni will own equity in CARS24 and will act as its brand ambassador. His investment, which was not disclosed, was part of the series D round of funding.
Dhoni said “I am thrilled to be part of the CARS24 journey. Besides being a fan of all things to do with cars, I am also a fan of new age companies that are disruptive, innovative and shaping the future. CARS24 is definitely one of these companies. They have big ambitions and I am excited to work with them and help them achieve their goals.”
Vikram Chopra, co-founder and CEO, CARS24, on the other hand, said, “We are very excited to welcome Mahi into the CARS24 family. He is a role model and hero to most Indians. His ability to constantly evolve, innovate and find solutions to every problem thrown at him over the years have made him the most celebrated captain in the Indian history. It’s the same of values that we live by at CARS24 and therefore the partnership felt natural and perfect. We also share a common love for cars which makes this even more special.”
CARS24 was founded by Vikram Chopra, Mehul Agrawal in 2015. It is the platform for buying and selling cars in India, having revolutionised the way pre-owned cars are sold in India. The company recently announced its foray into the franchise model and intends to scale up its presence in 300+ tier two, three, and four markets by 2021.
The company believes that Dhoni’s credentials, recognition and traits, on and off the pitch, makes him the perfect face for CARS24 and will strengthen the company’s endeavor to become India’s most trusted brand for pre-owned car sales.
Furthermore, other similar platforms under the automotive industry include CarTrade, CarDekho, Cars2you, Droom, CarWale, Carnation, OLX and among others.