CredR has raised Rs. 48.1 crore ($6.5 million) in funding led by Yamaha Motors to enhance its market position and technology platform in India's used two-wheeler segment.

Target Information

Bangalore-based Incredible Technologies Private Limited, operating under the brand CredR, has successfully raised Rs. 48.1 crore ($6.5 million) in its latest funding round. This investment was led by Yamaha Motors, alongside existing investors Omidyar Network India and Eight Roads Ventures, and automotive-focused Astarc Ventures. CredR stands as India's largest used two-wheeler consumer brand, committed to creating an omnichannel purchasing experience through a network of flagship showrooms in Maharashtra, Karnataka, Delhi, NCR, and Rajasthan. The newly acquired funds will be utilized to solidify its market presence, enhance its technology platform, and expand customer offerings.

Founded in 2015, CredR has been instrumental in formalizing the unorganized and fragmented used two-wheeler market in India, which encompasses over 100,000 dealers across the nation. Despite the size of India's used two-wheeler market, with over 30 million units sold annually, challenges such as standardized pricing, rigorous quality inspections, customer experience enhancements, and post-sales support remain prevalent. CredR is dedicated to addressing these challenges and building trust within the market through its comprehensive, technology-driven business model.

Industry Overview

The Indian used two-wheeler market has seen significant growth in recent years, fueled by increased consumer demand for affordable mobility solutions amidst rising living costs. The market remains fractured, with a