CarDekho SEA, the Southeast Asia business unit of the India-based digital automotive solutions provider CarDekho Group, has raised its first external funding round of $60 million, taking the total funds raised so far to $100 million. The round was led by prominent growth and private equity investors Navis Capital Partners (Navis) and Dragon Fund.

Headquartered in Singapore and operational across Southeast Asia, CarDekho SEA offers services including used car finance and refinance loans, dealer inventory funding, and classifieds.

“The proceeds will be used to enhance the group’s existing capabilities in Indonesia used car bike financing, used car refinancing and classifieds, and to support further expansion into the used auto financing sector in the Philippines,” a company statement said on Wednesday.

“The group will continue to build and develop its ecosystem for its distribution partners in the region through existing product offerings like inventory funding for used car dealer/agent partners,” it said.

CarDekho SEA owns and operates multiple subsidiaries in the region, including OTO Indonesia, Carmudi Philippines, and Zigwheels Philippines. 

The four-year-old international arm of the Jaipur-based CarDekho registered over 2,00,000 disbursements and surpassed $1 billion in loans disbursed.