CarDekho launches a Specialized FinTech Platform – Rupyy


CarDekho, India’s leading auto-tech company, has introduced Rupyy, a specialized FinTech platform, which offers a whole new world of financing options to automobile customers and retailers. Rupyy will enable customers to apply and get instant approval for all their auto financing requirements. CarDekho Financial Services business will be transformed and merged under this new brand – Rupyy.


Rupyy is an end-to-end digital platform that has been designed to make the entire loan journey super easy and convenient while ensuring a quick turnaround time of just a few minutes. The experience incorporates a digital QR-code based onboarding journey at car dealers / finance distributors. Consumers can avail a self-help journey through this QR-code, including video-KYC, e-NACH and e-Agreement to get their loan sanctioned at the Point of Sale in just a few minutes. Consumers can also avail the journey on rupyy.comBehind the screens, Rupyy has a proprietary multi-lender loan origination system that is deeply integrated with all the partner banks and NBFCs in the auto loan ecosystem.

Namit Jain, Co-founder and CEO, of Rupyy, said, “Rupyy is the future of consumer financing that brings ‘consumer first’ approach to lending through technology. Auto finance has traditionally been one of the most slow-moving categories when it comes to customer experience. On average, the turnaround time to get a loan is upwards of 4-5 days due to several long & physical processes. These processes not only inconvenience customers but also impact the working capital cycle of auto retailers. Rupyy consolidates our learnings from the past to provide a modern end-to-end digital experience from lead generation to loan disbursal to the title transfer. In future, we intend to add more categories as well as co-create financial products that offer a new age way of owning an automobile in India. Our aspiration is to represent 35-40% market share in the segment over the next 3-5 years.”


The used car finance industry made a strong comeback in FY22. The total loans disbursed by organized financiers were upwards of ₹29,000 crores, registering a Y-O-Y growth of 60%+. India used car finance penetration is also low at 18% compared to 75% for new cars. CarDekho believes that the industry is likely to grow at an annualized rate of 20% reaching the $10bn mark by FY27.


CarDekho Financial Services business achieved a monthly run-rate of INR 400 crores in Used Car finance disbursals in Mar’22 and exited FY22 at an annualized run rate of INR 5,000 crores loan disbursals. CarDekho Financial Services business has scaled up its distribution to 1,750+ channel partners across 80+ hubs all over the country.


Amit Jain, Co-founder & CEO, of GirnarSoft, said, “At Girnar, we have taken pride in incubating market leaders across various consumer categories. I am thrilled about the launch of Rupyy. It will help take us a giant leap in our aspirations to become India’s preferred and largest go-to place for all financing requirements of automobile consumers and retailers”.


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