CarDekho SEA secures $60 million funding to expand used vehicle financing in Southeast Asia

CarDekho's South Asia unit has raised $60 million in funding, led by Navis Capital Partners and Dragon Fund. This investment will enhance its used vehicle financing operations in Indonesia and the Philippines, where it aims to increase market share. Since its launch in 2020, CarDekho SEA has disbursed over $1 billion in loans and achieved significant growth, including 200,000 loan disbursements. The company currently holds a 3% share of the used auto finance market in Indonesia. The new funding will support improvements in financing used cars and motorcycles, refinancing, and managing classified ads. CarDekho SEA operates several brands in the region, including OTO Indonesia and Carmudi Philippines.