VC Fund Investments
Used two-wheelers marketplace CredR raises $6.5 M from Yamaha, Omidyar, others
Mumbai-based CredR, an omnichannel marketplace for used two-wheelers, has raised USD 6.5 million (INR 48.1 crore) from Yamaha Motors and existing investors Omidyar Network India and Eight Roads Ventures. Astarc Ventures, an early-stage venture capital fund, also participated in the funding round. The company will use the funds to consolidate its market position, strengthen its tech platform and expand customer offerings. Founded in 2015, CredR has a chain of showrooms in Maharashtra, Karnataka, Delhi NCR and Rajasthan, with over 100,000 dealers. It helps customers discover and book a used two-wheeler of their choice. The purchase is made at the showroom after a test ride. CredR is stated to have helped over 300,000 Indians own a used two-wheeler of their choice since its launch. It hopes to take its total number of showrooms to more than 100 by 2023.
From the Venture Intelligence PE-VC Deal Database: Between Sep-15 and Oct-20, CredR raised over $22-M from Omidyar Network, Eight Roads Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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