Capri Global Holdings (CGHL), the holding company for Capri Global Capital, a non-banking financial company with the brand name Capri Loans, has expanded its national footprint by acquiring a 51% stake in the online new car selling platform CarLelo, for Rs 150 crore.
This investment is a testament to our commitment to driving the growth of the online new car sales and financing market while empowering new-age techpreneurs to overcome existing market challenges, said Rajesh Sharma, Managing Director and Founder, Capri Global Holdings.
Capri Loans recognises this investment as an opportunity to foster the expansion of the burgeoning online new car sales market, all while prioritising utmost convenience in terms of financing for customers, he added.
With this fresh influx of capital, CarLeLo will improve its presence, services, and
technology which will be utilised to acquire new customers. CarLelo currently has 1,200 associates strategically placed across 34 cities in India, and intends to sell around 7,000 to 8,000 cars every month, the press release noted.
Gaurav Aggarwal, the visionary CEO of CarLelo said that this opportunity digital car sales realm represents an untapped and abundant market opportunity, and together, CarLelo and Capri Loans can forge new frontiers within this domain.