The Briefing: Cars24 Raises $400M, RazorPay Lands $375M, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Cars24 Raises $400M

India-based used vehicle marketplace Cars24 reportedly raised $400 million in a new round of funding, doubling  the company’s valuation to $3.3 billion. The company’s fundraise comes amid strong demand for used cars, given the supply chain constraints that have driven up the price of new vehicles. Cars24 last raised $340 million in a Series F round in September.

— Sophia Kunthara

RazorPay Lands $375M

Fintech startup RazorPay raised $375 million in a round of funding co-led by Lone Pine Capital, TCV and Alkeon Capital, TechCrunch reported. The India-based payment processor is now valued at $7.5 billion, and has raised at least $741 million to date. The company is backed by investors including Ribbit Capital and Sequoia Capital India.

— Sophia Kunthara

Kurly Bags $210M

Grocery delivery startup Kurly raised $210 million in a round of funding that brings the South Korean company’s valuation to $3.3 billion, according to TechCrunch. The funding comes as the company prepares to go public in South Korea. Kurly reportedly generated $845 million in sales in 2020 with 97 million in operating losses as demand for grocery delivery services has increased amid the COVID-19 pandemic.

— Sophia Kunthara

Illustration: Dom Guzman