Capri Global Holdings Pvt Ltd (CGHL) has acquired 51 per cent stake in CarLelo, an online new car selling platform, for ₹150 crore.

CGHL is the holding company of non-banking financial company, Capri Global Capital Ltd (CGCL).

“This investment is a testament to our commitment to driving the growth of the online new car sales and financing market while empowering new-age techpreneurs to overcome existing market challenges,” said Rajesh Sharma, Managing Director and Founder, CGHL.

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CGHL, in a statement, said with this fresh influx of capital, CarLelo will improve its presence, services, and technology, which will be utilised to acquire new customers.

“CarLelo currently has 1,200 associatesacross 34 cities in India who regularly interact with customers, delivering them end-to-end services for all their new vehicle-related needs,” as per the statement.

In addition, the company will also handhold 8,000 plus authorised dealerships in the country to enhance customers’ digital buying and selling experience.

Further, CarLelo, with its innovation in online new car sales, intends to sell around 7,000 to 8,000 cars every month, CGHL said.