PE Fund Investments
Rural women-focused 2-wheeler services co Bike Bazaar raises Rs.170-Cr led by WAM
Bike Bazaar, a Pune-based two-wheeler services startup, has raised INR 170 crore as part of its ongoing Series D funding round from a consortium led by Women's World Banking Asset Management (WAM), who joined existing investors Elevar Equity and Faering Capital. The company is also in talks with global investors for raising INR 80 crore more, taking the total Series D equity round to INR 250 crore. Led by its Managing Director Srinivas Kantheti, Bike Bazaar will use the funds to expand further into rural India as the need for personal mobility - especially among women - rises and also scale its marketplace for used two-wheelers. Since inception, Bike Bazaar has raised INR 400 crore in equity funding. Founded in 2017, Bike Bazaar offers two-wheeler lifecycle services, financing for new and pre-owned vehicles, including EVs. It also offers a marketplace for trading in and leasing pre-owned two-wheelers, insurance, and servicing. The company claims to have disbursed 3,00,000+ two-wheeler loans as of July 2022. The company is in talks with global EV-focused funds to raise INR 200-250 crore for its two-wheeler EV financing, leasing, and services business.
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