Briefing

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.

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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

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