India, Feb. 20 -- In line with its strategy to diversify offerings and bolster its financial services, CARS24's financial arm, CARS24 Financial Services Private Limited (CFSPL), has officially launched a credit platform to cater to a wide audience, including car buyers and car owners among others.

However, the LOANS24 site had already been made live before its official launch today (February 20). CARS24 team told Inc42 that the website was live because the LOANS24 pilot had been going on for the last few weeks.

The company said that LOANS24 initially offered used car financing but now it will provide new car financing, purchasing financing, loans against cars and top-up loans on cars.

The LOANS24 website even shows that it offers other...