Olga Rudenko

Cars24, the India-based used-car marketplace, has secured a A$100 million ($73 million U.S.) debt facility from IFM Investors .

The debt facility will be used to grow the volume of inventory at its Australian business from 1,000 cars to 4,000.

Cars24 launched in Australia in September after raising $450 million in equity and debt, led by DST Global, Falcon Edge and Softbank Vision Fund II.

Since launching in Australia, Cars24 has been heavily promoting its end-to-end digital retailing marketplace, as it takes on leading automotive classifieds vertical Carsales, which launched its own digital retailing offering this past August.

Olga Rudenko, the former Seek executive, is heading up the Australian arm of Cars24, after most recently leading consumer strategy at Uber Eats.

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