Friday, Jun 21 2024 | Time 23:19 Hrs(IST)
Business Economy

Capri Global buys 51 pc stake in CarLelo for Rs 150 crore

New Delhi, May 25 (UNI) Non-banking financial company Capri Global Holdings (Capri Loans) on Thursday said that it has acquired 51% stake in online car selling platform CarLelo for Rs 150 crore.
The company in a media statement said that the acquisition is a natural progression towards cementing Capri Loans commitment to customer convenience and its dedication to meet the
evolving needs of car loan customers nationwide.
"Through our partnership with CarLelo, we aim to cater to the ever-evolving needs and requirements of customers across the nation. Capri Loans recognizes this investment as an opportunity to foster the expansion of the burgeoning online new car sales market, all while prioritizing utmost convenience in terms of financing for customers and propelling forward cutting-edge solutions within the industry," said Rajesh Sharma, Managing Director & Founder, Capri Global Holdings.
With the fresh cash infusion, CarLelo is seeking to improve its presence, services and technology which will be utilized to acquire new customers.
"Capri Global Holdings Pvt Ltd’s investment serves as a resounding validation of CarLelo's vision to revolutionize the new car selling and buying experience for today's tech-savvy generation, ushering
in unprecedented transformations in the online auto sales market," said Car Lelo CEO Gaurav Aggarwal.
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