Bengaluru: Bengaluru-based Incredible Technologies Pvt. Ltd. (CredR) has raised Rs 48.1 crore ($6.5 million) in a funding round led by Yamaha Motor India, along with participation of existing investors Omidyar Network India, Eight Roads Ventures and Astarc Ventures.
The company will use the funding for consolidating its market position, strengthening technology platform and expanding customer offerings, according to a statement.
Founded in 2015, CredR is an online marketplace for two-wheelers and has a chain of showrooms in Maharashtra, Karnataka, Delhi NCR and Rajasthan. It has over 1,00,000 dealers in the country.
Even though India's used two-wheeler market accounts for over 30 million annualised units, challenges around standardisation of pricing, strong quality inspection, customer experience and, most notably, post-sales support persist. "CredR's mission is to solve the existing trust deficit in the category through their full-stack vertically integrated business model empowered with technology," the company stated.
The company will use the funding for consolidating its market position, strengthening technology platform and expanding customer offerings, according to a statement.
Founded in 2015, CredR is an online marketplace for two-wheelers and has a chain of showrooms in Maharashtra, Karnataka, Delhi NCR and Rajasthan. It has over 1,00,000 dealers in the country.
Even though India's used two-wheeler market accounts for over 30 million annualised units, challenges around standardisation of pricing, strong quality inspection, customer experience and, most notably, post-sales support persist. "CredR's mission is to solve the existing trust deficit in the category through their full-stack vertically integrated business model empowered with technology," the company stated.