CarDr.com is backed by Red Fort Capital
CarDr.com has announced that it has appointed Sanjay Patel as the chief executive officer. He has co-founded Swap Motors, which aids individuals in buying, selling, and trading vehicles online in the U.S. with over 25 year journey engaging in collaborations with corporate enterprises.
In addition to his corporate career, he has demonstrated his business acumen in private equity through Level X Group (LXG) and business consulting with LV8, both ventures that he co-founded.
"We are thrilled to welcome Sanjay Patel to the helm of CarDr.com. His diverse background, which includes founding Swap Motors and leading successful private equity endeavors, speaks volumes about his capabilities," said Parry Singh, founder & chairman of CarDr.com. "
"I am honored to take on the role of CEO at CarDr.com. The company's dedication to innovation and customer value resonates deeply with me," said Sanjay Patel, CEO of CarDr.com. "I am eager to leverage my experience from Swap Motors and the private equity sector to drive CarDr.com's growth and impact positively."
Red Fort Capital Finance is an RBI registered Investment Grade NBFC, dealing in providing quick Business loans to Micro, Small and Medium Enterprises (MSME), typically in under 7 days.
Red Fort Capital was founded by Parry Singh, an entrepreneur who has founded over 9 companies. Red Fort Capital has multiple financing vehicles, including its Regulated NBFC in India, a globally focused Principal Investing Group, and market-leading Private Equity Funds.
The funding round was led by the Michael and Susan Dell Foundation with wider participation from existing investors including YourNest, Spearhead Capital, 9Unicorns, and AccionVenture Lab
With this license, the company aims to provide more flexible and accessible funding without equity dilution to thousands of emerging SMEs
The move is expected to increase the fintech firm's revenue and margins and allow it to offer longer-term personal loans with higher ticket sizes