To note, Sangharjka has been working with Cars24 in the capacity of an audit committee member since 2021
Over his near 14 year tenure with Infosys, he has headed mergers and acquisitions and handled stakeholder management as well as heading post merger integration of companies
The appointment comes at a time when Cars24 is looking to make its public market in some time
Amid a trail of top leadership exits, IPO-bound Cars24
has onboarded Infosys chief financial officer (CFO) Jayesh Sanghrajka as independent director of the used car marketplace’s board.
To note, Sangharjka has been working with Cars24 in the capacity of an audit committee member since 2021. The ex-Rediff finance head joined Infosys in 2012 as a VP and corporate financial controller. Over his near 14 year tenure with the tech giant, he has headed mergers and acquisitions and handled stakeholder management as well as heading post merger integration of companies.
“Having a mentor I have admired for so long say yes to joining our Board is both humbling and exciting,” Cars24’s CFO Ruchit Agarwal said.
The appointment comes at a time when Cars24 is looking to make its public market in some time. In January, cofounder and CEO Vikram Chopra said the startup is looking to go public in the next six to twelve months.
Meanwhile, Cars24 is also currently seeing a major top-deck reshuffle. For instance, Cars24’s cofounder and COO Mehul Agarwal, cofounder and CMO Gajendra Jangid and India used car business CEO Himanshu Ratnoo have exited the startup.
On the financial front, the startup’s adjusted net revenue in H1 FY26 rose 18% YoY to ₹651 Cr. The improvement in the top line helped the startup trim its adjusted EBITDA loss by 36% YoY to ₹162 Cr, Chopra claimed in a social media post in January. The startup is yet to share a complete picture of its FY26 financial performance,
Meanwhile, Cars24 has been investing to strengthen its increased dependence on AI to sharpen its operations. The startup claims that AI has empowered it to reduce inspection timing, conduct audits at its retail hubs and handle 15 Lakh+ minutes of calls per month across 7 languages.
Earlier this month, Cars24 also committed $20 Mn to its recently launched initiative, AI Labs, to focus on building AI-first products.
Source: Inc42 - Startups
