Used car marketplace Cars24 cofounder and chief marketing officer (CMO) Gajendra Jangid has resigned from executive role to an advisory position with the firm.

In a social media post on LinkedIn, cofounder and CEO Vikram Chopra said, “After eleven years of building Cars24 together, Jangid is stepping back from his executive role. He will stay active on the things he built from scratch, and will continue to advise where needed.”

Jangid cofounded Cars24 along with Chopra, Mehul Agrawal and Ruchit Agarwal in 2015 as a marketplace for automobiles for buying and selling pre-owned cars.

He has been heading the marketing division as CMO since inception. Prior to cofounding the startup, he worked with Schlumberger under various titles for over nine years.

This marks the second major departure for Cars24 within weeks. In March, its India used car business CEO Himanshu Ratnoo will be stepping away from the company. 

The leadership changes in the company come closely aligned with its plans to go public.

At the beginning of the year, CEO Chopra said the startup would be looking to go public within the next six to twelve months. 

Without sharing details about the size of the public issue or the valuation of Cars24, Chopra highlighted significant improvements in the startup’s financial health to support its bid to crack the $200 Bn used car market. 

On the operational front Cars24 has been expanding its business verticals via multiple acquisitions over the past few months. For instance, Cars24 vehicle information and management platform CarInfo and acquired automotive utility startup Vehicle Info, since the start of this year.

On the financial front, the startup’s adjusted net revenue in H1 FY26 rose 18% YoY to ₹651 Cr. The improvement in the top line helped the startup trim its adjusted EBITDA loss by 36% YoY to ₹162 Cr, Chopra claimed in a social media post in January.

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