OLX India Partners with IDFC FIRST Bank to Launch Used-Car Loan Offering

OLX India Partners with IDFC FIRST Bank to Launch Used-Car Loan Offering​

OLX India, a marketplace under CarTrade Tech Limited, has announced a strategic partnership with IDFC FIRST Bank to introduce a dedicated used-car loan offering designed to enhance affordability and streamline the purchasing journey for its users. This alliance aims to leverage OLX India’s vast audience of buyers and sellers by providing eligible customers with a tailored vehicle financing solution.

The collaboration pairs OLX India's massive consumer base—which includes approximately 3 million used-car sellers and 20 million used-car buyers annually—with IDFC FIRST Bank's specialized vehicle financing capabilities. The offering is designed to meet the specific needs of digital-first customers, making used-car finance more accessible and relevant in a rapidly growing market.

India’s used-car sector is currently undergoing significant expansion, driven by rising demand for affordable mobility and increasing reliance on digital discovery platforms. The market has already surpassed 5.9 million annual transactions and is projected to reach close to 9.5 million transactions by 2030, representing a substantial transaction opportunity. Given that CarTrade Tech's consumer marketplaces host over 63% of India's online used-car listings, OLX India is strategically positioned within this ecosystem growth phase.

The partnership addresses the critical need for simple and transparent financing options in the organized used-car market. The goal is to reduce traditional friction points inherent in the used-car financing process, allowing users to quickly evaluate affordability, make informed decisions, and move confidently toward completing a purchase.

Diya Sanghi, President - Corporate Finance at CarTrade Tech, stated that bringing this specially curated finance offering through IDFC FIRST Bank makes the used-car buying journey "seamless, affordable and transaction ready." She described the partnership as a vital step in their company's evolution from discovery to transaction enablement.

Rishi Kant Mishra, Business Head - Vehicle at IDFC FIRST Bank, commented on the collaboration, noting that they have crafted a seamless onboarding experience for OLX India customers. He emphasized that this partnership is promising due to the high volume of traffic visiting the platform and the bank's capacity to fulfill customer affordability needs with speed.

This initiative aligns directly with CarTrade Tech’s overarching strategy to cultivate a technology-led, asset-light ecosystem across India's used vehicle market, enabling discovery, trust, affordability, and successful transactions.

About CarTrade Tech Limited
CarTrade Tech is recognized as one of the world's largest digital automotive ecosystems and a leading online marketplace in India. Through its platforms, including OLX India, CarWale, BikeWale, and Shriram Automall, the company serves over 80 million monthly unique users, with more than 95% of this traffic generated organically. In addition to hosting more than 63% of India's online used car listings, its remarketing platforms facilitate the auction of over 1.7 million vehicles annually.

CARTRADE Stock Price Movement​

Cartrade Tech Limited shares gained 3.24% on Thursday, closing at ₹2694.4 after the stock rallied by ₹84.40. The company’s equity saw a traded volume of 887,688 during the period.