CarTrade Tech, through its subsidiary OLX India, has announced a strategic partnership with IDFC FIRST Bank. This collaboration aims to offer a specialized used-car loan product to OLX India users, making pre-owned vehicle financing more accessible and seamless. The initiative leverages OLX India’s extensive user base and IDFC FIRST Bank’s financing capabilities to tap into India’s growing used-car market, projected for significant expansion by 2030.
CarTrade Tech Partners with IDFC FIRST Bank for Used-Car Loans
CarTrade Tech Limited, a leading digital automotive marketplace, announced today, June 28, 2026, a significant partnership between its subsidiary OLX India and IDFC FIRST Bank. This collaboration is set to launch a new used-car loan offering specifically curated for OLX India users. The initiative aims to make used-car ownership more affordable, accessible, and seamless for customers across India.
Enhancing Used-Car Financing
The partnership brings together OLX India’s vast network of used-car buyers and sellers with IDFC FIRST Bank’s robust vehicle financing solutions. OLX India, which engages approximately 3 million used-car sellers and 20 million used-car buyers annually, is strategically positioned to capitalize on the burgeoning Indian used-car market. This market is currently experiencing strong growth, driven by demand for affordable mobility and increasing digital adoption. The market is projected to handle 9.5 million transactions by 2030, representing a substantial opportunity.
Digital-First Approach to Loans
CarTrade Tech highlights that access to simple, timely, and transparent financing remains a key enabler for used-car purchases. The new offering is designed as a digital-led journey, aiming to reduce traditional friction in the financing process. This approach will enable users to evaluate affordability faster, make more informed decisions, and gain greater confidence in their purchase, ultimately driving more transactions to completion.
Strategic Alignment and Vision
Diya Sanghi, President – Corporate Finance at CarTrade Tech, stated, “With IDFC FIRST Bank, we are now bringing a specially curated finance offering to OLX India users, making the used-car buying journey more seamless, affordable and transaction-ready.” This partnership aligns with CarTrade Tech’s broader strategy of building a technology-led, asset-light ecosystem that facilitates discovery, trust, affordability, and transactions within India’s used-vehicle market.
Mr. Rishi Kant Mishra, Business Head-Vehicle, Education and Consumer Durable Loans at IDFC FIRST Bank, added, “We have crafted a seamless onboarding journey for OLX India customers.” This venture is seen as a promising step, given the high velocity of customers on the platform and the bank’s capacity to quickly meet customer affordability needs.
About CarTrade Tech Limited
CarTrade Tech Limited is recognized as one of the world’s largest digital automotive ecosystems and India’s leading online marketplace company. Its platforms, including CarWale, BikeWale, Shriram Automall, and OLX India, serve over 80 million monthly unique users. The company’s consumer marketplaces host more than 63% of India’s online used-car listings, reinforcing its dominant position in the sector.
Source: BSE
