CARS24 elevates Divanshu Saxena as CBO for financial services business

CARS24 has elevated Divanshu Saxena to the role of chief business officer (CBO) for CARS24 Financial Services (LOANS24), the company’s NBFC arm. He will be responsible for leading strategy, growth and execution across the financial services business.

Saxena currently heads the consumer financing business at LOANS24 and has been associated with building and scaling the lending vertical. In his new role, his focus will include expanding lending operations while maintaining profitability, risk controls and portfolio quality.

The LOANS24 business has seen growth in finance penetration and increased contribution from non-retail lending segments during his tenure. Saxena will now oversee the broader financial services strategy as the platform continues to expand its vehicle financing offerings.

Commenting on the elevation, Ruchit Agarwal, co-founder & group CFO, CARS24, said: “Divanshu has played a pivotal role in building CARS24 Financial Services into a strong and institutionally sound business. His disciplined approach to growth, deep understanding of lending economics, and consistent execution have laid a solid foundation for scale. We are proud to elevate leaders from within, and as CBO, Divanshu will be central to shaping the next phase of growth for LOANS24.”

Divanshu Saxena said, “Building LOANS24 has been about creating a lending business that balances speed with discipline and growth with resilience. As CBO, my focus will be on scaling responsibly, strengthening our fundamentals, and continuing to build a financial services platform that earns long-term trust from customers and partners.”

Prior to joining CARS24, Saxena worked as a project leader at Boston Consulting Group, where he was part of the Financial Services and Industrial Goods practice. He is an alumnus of IIM Calcutta and Shri Ram College of Commerce, University of Delhi.