CarTrade In The Black In FY23, Posts Profit Of INR 40 Cr

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Boundless Brands was founded in 2020 by Sandeep Aggarwal and is based in New Delhi. The company’s mission is to help F&B companies digitize their operations and leverage technology to improve their efficiency and profitability.

The company’s platform offers a range of features, including online ordering, delivery management, and inventory management. These tools can help F&B companies streamline their operations and improve their customer experience, making it easier for them to compete in an increasingly crowded market.

The funding round led by Venture Catalysts will enable Boundless Brands to expand its reach and add more F&B companies to its portfolio. The company plans to use the funds to invest in product development, marketing, and sales, as well as to hire more employees to support its growth.

With the pandemic forcing many F&B companies to pivot to online ordering and delivery, there has been a surge in demand for digital solutions that can help these businesses adapt to the new normal. By offering a range of tools and services to help F&B companies digitize their operations, Boundless Brands is well-positioned to capitalize on this trend and support the growth of the industry.

CarTrade, an Indian online marketplace for buying and selling new and used cars, has reported a profit of INR 40 crore (approximately $5.4 million) for the current financial year, FY23. The company has achieved profitability just two years after going public in August 2021.

The company’s revenue for FY23 is expected to be around INR 1,000 crore (approximately $135 million), a significant increase from the INR 717 crore (approximately $97 million) it reported in FY22. The growth has been driven by increased adoption of online car buying and selling, as well as the company’s expansion into new markets and segments.

CarTrade offers a range of services to help consumers buy and sell cars online, including price comparisons, vehicle inspections, and financing options. The company also offers a platform for dealers and manufacturers to list their inventory and connect with potential buyers.

The company’s success in achieving profitability so soon after going public is a testament to the strong demand for online car buying and selling in India, as well as CarTrade’s ability to execute on its growth strategy. With the company continuing to expand into new markets and segments, it is well-positioned to continue its growth trajectory in the coming years.