To bolster the operations of its RSA vertical, Girnar Software Pvt Ltd, which owns CarDekho.com, Gaadi.com and Zigwheels.com, has acquired roadside assistance (RSA) provider Help On Wheels Pvt Ltd in an all-cash deal. Post acquisition, Help On Wheels’ 50 members team, will join Girnar Software while its founders will report to Ankur Agarwal, AVP – new cars at Girnar Software.
Girnar Software has started its RSA vertical a few months ago and claims to have over 8,000 users. The company wants to create an entire ecosystem from car buying to car ownership. It also provides auto insurance through its exclusive tie up with CoverFox.
Founded in 2014 by Lalit Parmar and Nirmal Mitra, Help On Wheels provides roadside assistance services and claims to have more than 50,000 customers.
Girnar Soft has acquired 5 companies till now, including Help On Wheels. Earlier it bought Drishya360, Gaadi.com, Zigwheels, and BuyingIQ. In March, the company received an undisclosed amount of investment from Google Capital as part of its extended Series B funding round, with participation from existing investor Hillhouse Capital. And, in January 2016, it secured $50 million in the first tranche of its Series B funding round led by Hillhouse Capital, with participation from Sequoia Capital and Tybourne Capital. Last year, HDFC Bank and Ratan Tata had also made investment in the firm.
It competes with CarTrade.com, which raised $145 million funding from Temasek Holdings, US-based March Capital and existing investor Warburg Pincus in its latest round in January 2016.
Advertisements