Capri Loans acquires 51% stake in CarLelo paving the way for digital transformation in the Indian automotive market

Capri Loans acquires 51% stake in CarLelo paving the way for digital transformation in the Indian automotive market

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New Delhi: – Capri Global Holdings Pvt Ltd (CGHL), the holding company for Capri Global Capital Limited – a non-banking financial company with the brand name Capri Loans, has expanded its national footprint by acquiring 51% stake in CarLelo, one of India’s online new car selling platform.

This strategic investment, amounting to Rupees 150 crore, reinforces Capri Loans’ position as a key player in the Indian automotive financing market while driving digital transformation and enhancing the consumer experience.

Rajesh Sharma, Managing Director & Founder, Capri Global Holdings Pvt Ltd stated, “At Capri Loans, customer convenience lies at the core of our operations. This investment is a testament to our commitment to driving growth of the online new car sales & financing market while empowering new-age techpreneurs to overcome existing market challenges. 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 prioritising utmost convenience in terms of financing for customers and propelling forward cutting-edge solutions within the industry.”

Gaurav Aggarwal, the visionary CEO of CarLelo, expressed his excitement about the association with Capri Loans, said, “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. With the increasing prominence of digital sales and the anticipated rise to an 80% market share within the next two years, driven by the rapid penetration of the internet and smartphones, as well as the shifting consumer sentiments towards online purchases of high-value items, this investment will bolster our endeavours to enhance our services and facilitate seamless car transfers by leveraging cutting-edge technologies. The digital car sales realm represents an untapped and abundant market opportunity, and together, CarLelo and Capri Loans can forge new frontiers within this domain.”