Online two-wheeler marketplace Bike Bazaar raised $52.8 million in a mix of equity and debt in its ongoing Series D funding where $21.4 million raised as equity funding from Women’s World Banking Asset Management (WAM) and the remaining $31.4 million as debt funding from several banks as well as financial institutions in the past six months
WheelEMI is the parent company of the online two-wheeler marketplace Bike Bazaar. Its services include buying and selling used two-wheelers as well as financing for new and used two-wheelers. Bike Bazaar intends to use the funds to expand further into India’s rural cities as well as to scale its new vertical of selling and purchasing used two-wheelers. Bike Bazaar claims over 1000 touchpoints and a presence in more than 140 Indian cities. It also claims to have disbursed over 3 lakh two-wheeler loans and a gross transaction value (GTV) of over INR 1,500 Cr.
