CarDekho acquires roadside assistance firm Help On Wheels

CarDekho has announced the acquisition of roadside assistance firm Help On Wheels for an undisclosed amount.

Apr 08, 2016 10:04 IST India Infoline News Service

Jaipur-headquartered Girnar Software Pvt. Ltd, which owns and runs online auto classifieds portal CarDekho, has announced the acquisition of roadside assistance firm Help On Wheels for an undisclosed amount. Reports suggest that this was an all cash deal. As part of the acquisition, the entire team at Help On Wheels will be integrated into the larger company.

This news comes just two weeks after Girnar Software raised an undisclosed amount of funding from Google Capital. This funding is believed to have valued the eight year-old company at about $400 million.

This is the fifth acquisition by the firm over the last two years. Prior to this the company has acquired companies like Drishya360, Gaadi.com, Zigwheels and BuyingIQ.

India is currently a booming pre-used car marketplace, as big as the new car market, with  first-time buyers increasingly opting for pre-owned cars.

Help On Wheels will help CarDekho’s road side assistance business scale faster, not only by enabling a established service network and client base, but also through the experience its team brings along with it. The main focus of the company will be on creating market for roadside assistance, which is a multibillion dollar market in the US and Europe.

In the pre-owned car space CarDekho competes with the likes of Cartrade.com which raised Rs.950 crore in funding led by Singapore-based investment firm and Droom Technology Pvt. Ltd, which raised $16 million in a round led by Lightbox.

Related Story

Open Free Demat Account (Rs699)