Bike Bazaar

India-based used-motorcycle marketplace Bike Bazaar has posted $18.3 million U.S. in revenue for FY21-22 (the financial year ended March 31, 2022).

According to an exclusive report by Entrackr, Bike Bazaar’s consolidated revenue climbed by 76.5% year on year. Concurrently, expenses rose by 54.6% year on year to $25.3 million U.S., leading to a loss of $6.7 million U.S. In spite of the increase in losses, Bike Bazaar’s financials show an improvement on several parameters, including interest gains from loan disbursements.

Bike Bazaar’s parent, WheelsEMI Pvt. Ltd., has so far disbursed about $250 million U.S. in auto loans. The company particularly caters to first-time borrowers and women from rural and semi-urban areas across 144 locations in India. In FY22, interest gained from auto loans accounted for 71.6% of the total revenue, with sales of secondhand motorcycles contributing 7.2%.

WheelsEMI raised INR170 crores ($21.3 million U.S.) in a Series D funding round in September 2022 from Women’s World Banking Asset Management (WAM) and existing investors Elevar Equity and Faering Capital. In January, it secured $10 million U.S. from DEG, the investment arm of German state-owned bank KfW.

Founded by Karunakaran Vadakkepat and Srinivas Kantheti in 2017 and headquartered in Pune, Bike Bazaar specializes in the sale, financing, insurance, and servicing of used motorcycles. It has raised $60 million U.S. so far.

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