This infusion of capital will be utilised to diversify and strengthen the company's offerings for consumers and dealers, CarTrade said in a statement.
CarTrade offers over 100,000 listings, price information and car certification for people looking for used cars. For new car buyers, it offers reviews, on-road prices, car comparisons and news about latest launches.
"We are extremely happy to have Warburg Pincus on board as a partner. The funds raised shall be employed to further expand our services to help us offer our consumers and dealers a seamless online experience," CarTrade Founder and Chief Executive Officer Vinay Sanghi said.
"We see tremendous potential in the Indian automobile market. CarTrade is one of the most innovative platforms in the online auto sector, and has shown strong growth momentum in the last couple of years," Warburg Pincus India Managing Director Nitin Nayar said.