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Mynewcar is an online platform in India that offers its customers new cars, accessories, and related services like car finance, leasing, insurance combined with an easy and convenient purchasing experience. The company also provides detailed information on latest auto news car maintenance tips, driving tips, car advice & expert reviews, hot deals & offers.


 * Type: Startup


 * Industry: Automotive


 * Founded: 2014


 * Founder: Madhukar Manpuria


 * Headquarters: Mumbai, India


 * Area Served: India


 * Key People: Madhukar Manpuria, Amol Kamalkar, Snigdha Bhuia


 * Products: Online automotive marketplace


 * Number of employees: 11-50


 * Website: http://www.mynewcar.in

HISTORY
Mynewcar was founded in India by Madhukar Manpuria with a mission to make car buying a joyful and hassle-free experience. Having acquired 11 years international automotive experience at OEM MS in Automotive Systems – RWTH, Germany, EMBA – Kellogg WHU, USA/Germany, Madhukar decided to enter into the Indian market by utilizing his rich experience and founding Mynewcar.in

SERVICES
Mynewcar follows a mission to simplify the car buying process to a joyful experience. Its tagline is Kharidiye Easily! Bachaiye Simply! It allows customers to search, compare and book their new car anytime and anywhere. The website also provides unbiased information at every step and assists in getting best deals. The car buying process or the entire life cycle of buying a car is completed in five main steps: search and compare, schedule testdrive, book online with best offers, balance payment to dealers and doorstep delivery.

OPERATIONS
Based out of Mumbai, the company now has presence in five metropolitan cities – Mumbai, Bangalore, Pune, New Delhi and Hyderabad with plans to expand its network to other cities in India including Chennai. The company has tied up with 100 + dealers and sells cars from 14 different brands from its online marketplace. The company has also focus on selling and promoting electric cars in India. Trivz, a newly launched product from Mynewcar is the world’s first platform that connects car buyers to car owners for test drives, thus helping the potential buyer to get a real-life feedback from the existing owner, who can earn by offering test drive and feedback to buyers.

INVESTORS
The company is backed by investors from India, Middle East & Europe. In 2015, the company received $250,000 seed funding from angel investors from India and Europe, including Dreamz Ventures GmbH from Switzerland. In the second round of funding in December 2018, Mynewcar raised $1 million in a pre-series – a bridge round from HNI’s.

PARTNERSHIPS
Mynewcar is in partnership with several major Indian banks namely ICICI, HDFC, Axis Bank, Kotak Mahindra and Yes Bank. It has also partnered with leasing companies namely Lease Plan, Ald Automotive and Orix and insurance companies namely Tata AIG, Bajaj Allianz, Bharti Axa and IFFCO Tokio.