Mumbai, 14 September,2023: CarDr.com, an automotive technology company, provides industry-leading software, hardware, and services for vehicle diagnostics, patterned component failure, live market vehicle pricing data and inspection company is backed by Red Fort Capital, a multi-billion dollar investment firm. The company’s Vehicle Diagnostic & Appraisal “Trade-Scan App” delivers original equipment manufacturer (OEM) accuracy appraisal data via a smartphone and pocket-sized Bluetooth onboard diagnostic (OBD) scanner, disrupting traditional approaches to vehicle trade-ins, auctions and inspections. CarDr.com has recently launched API integrations to strategic partners, enabling businesses to provide CarDr.com’s Vehicle Diagnostic & appraisal capabilities. Positioned to empower automotive retailers and auction houses across the United States, CarDr.com provides accurate and reliable vehicle valuations that sustains the growth of small businesses in the sector and boosts profitability.
CarDr.com announces appointment of Sanjay Patel as the company’s new Chief Executive Officer, he has co-founded Swap Motors, revolutionizing the way individuals buy, sell, and trade vehicles online in the U.S. with over 25-year journey engaging in significant and transformative collaborations with top-tier corporate enterprises, including IBM and PwC. 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. This multidisciplinary experience further cements his ability to guide CarDr.com into its next era of growth and innovation.
“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. ” Being the Founder & CEO of Red Fort Capital as well, this is setting the stage for our group’s entry into the used car lending market via our proprietary fintech platform, CarFin.com. Bolstered by CarDr.com’s robust SaaS capabilities, Red Fort Capital is set to disrupt the landscape of automotive transactions and financing.”
“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.”
About Red Fort Capital
Red Fort Capital Finance is an RBI registered Investment Grade NBFC, specializing 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, a serial 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.
Red Fort Capital NBFC seeks deals of Rs.1 Cr to 10 Cr for financing for working capital, equipment and machinery. http://www.RedFortCapital.com