Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s (M&M) Mahindra First Choice Wheels (MFCWL), India’s largest and most diversified used vehicle automotive services provider has raised a new round of $15 million (Rs 100 crore). The entire investment is in the form of primary capital and will be used to fund its growth over the next 18 months and values the company at $250 million pre money and $265 million post money. The last primary fund raise was in March 2015.

MFCWL has been the fastest growing automotive products and services provider and over a 5 year period has achieved a monthly growth rate of nearly 3.5% making it the fastest growing automotive products and services provider in India. The company revenues have grown nearly 8 times in the last 5 years.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.