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WheelsEMI Forayed into Used Two-wheeler Marketplace and Service Under Unified Brand Bike Bazaar

News Desk, News Nation 360 : WheelsEMI Pvt Ltd, India’s leading two-wheeler financing company has announced its entry in the used two-wheeler marketplace and service to tap emerging opportunities in this space. It recently underwent a Branding exercise to reflect the company’s decision to evolve its business and formalize the used two-wheeler ecosystem across India. Complementing two-wheeler financing the brand Bike Bazaar aligns with the company’s vision to be the first and the largest two-wheeler lifecycle management company in India. Bike Bazaar in addition to offering to finance of two-wheelers, will become a transparent marketplace for pre-owned two-wheelers while offering value across the entire Ownership-Ridership cycle. Since its inception, Bike Bazaar has onboarded more than 1.8 Lakh customers and has over INR 5 billion assets under management through its over 1000 franchisees across India. The pre-owned two-wheeler market in India remains largely unorganized and has a huge potential. Bike Bazaar’s focus is to reach the Tier 2 and Tier 3 towns of India and formalize the used two-wheeler buying experience. It is on a hyper-growth path and with its innovative direct collection model for rural two-wheelers and strategic partnerships with banks and OEMs, Bike Bazaar aims to onboard over a million customers by FY24 and develop a network of 4000+ franchisees during this period. It also aims to be the largest financer of electric two-wheelers and believes that 30% of all new two-wheelers will be electric vehicles by 2030. K Srinivas, Co-founder, Bike Bazaar said that they look forward to the next phase of the journey under a unified brand Bike Bazaar. It is a pivotal milestone for the business, representing their vision for the future to become India’s largest two-wheeler lifecycle management company. With their renewed focus on two-wheeler lifecycle services and their pan-India presence and dealer distribution network they aim to onboard 1 million customers and grow their loan book to INR 3,000 crore by FY24.

Report : Anustup Kundu