ISN Exclusive: Cars24 to exit Bengaluru as it concentrates focus on Gurugram

As several startups make Bengaluru their home, moving away from cities such as Mumbai and Gurugram, there is an outlier. 

Cars24 has informed employees it will be shuttering its Bengaluru office and has asked people to relocate to Gurugram if they wish to continue working with the startup. Those unwilling to move are being allowed to quit the company, according to sources with confidential information who spoke to ISN on the condition of anonymity. 

The relocation work has already begun and will be concluded in the coming weeks. The teams here were largely engineering and product focused and Cars24 wants to have all operations consolidated under one roof. 

Cars24 chose not to reply to Indian Startup News. 

Founded in 2015, CARS24 positions itself as an automotive “super app,” offering services from buying used cars and selling to loans, insurance and scrappage, covering the full stack. 

It is based in Delhi NCR and competes with Spinny which is on a massive fundraising spree. 

There is a lot of action in the used car space. While Spinny has been constantly raising funds, it also is in talks to acquire GoMechanic.  Even CarTrade was in talks to acquire CarDekho – a deal that however did not go through. 

Bengaluru meanwhile has become a favourite as multiple companies such as Snabbit and Pronto and others are shifting here seeking engineering talent. There is also a flip side, like Cars24 which does not likely find the economics to be suitable.