Roadside assistance (RSA) company Cross Roads India Assistance(CRIA) has acquired car garage aggregator MeriCar. The acquisition is primarily targeted towards expanding the network of car workshops on CrossRoads across the country.
This acquisition would help us build a branded garages network across India using MeriCAR’s existing network infrastructure,
said COO of Crossroads, Puneet Sharma who did not disclose the financial details of the deal.
As per the deal, MeriCar founder Rakesh Sidana will join the team of CrossRoads to head a new vertical of point of sales and services network. MeriCar is widely known as the country’s first online car garage aggregator and can be seen as the marketplace of car workshops and auto repair shops.
It helps the car owners to find the nearest car servicing and repair workshops near them. These workshops include authorized service stations of Maruti, Hyundai, Tata as well as other authorized and multi-brand service stations, repair shops and small car garages in India.
Established in 2008, MeriCar reportedly has 22 offices and 35 entrepreneur franchise partners across India. The company had raised funding in two rounds, firstly from My First Cheque and then from Rajan Anandan.
It was reportedly planning to raise a larger funding round in the future.Its acquisition would help the 16-year-old Crossroads to expand its services through its digital platform beyond its traditional brick and mortar model.
The number of branded garages under CRIA will surpass 1000 after the acquisition and the company aims to reach 5000 in the next two years.
CrossRoads has currently 500-plus employees along with affiliated 30,000-partner network. It offers its services in 12 cities and has a network presence in 30 cities across the country in the states of Maharashtra, Karnataka, Tamil Nadu, Telangana, West Bengal, Gujarat, Uttar Pradesh, Goa, Odisha, and Rajasthan.
Under the expansion plan, the company is now looking to enter Lucknow, Kanpur, Agra, Allahabad and Varanasi in the first phase of its expansion. It also aims to have over 1,500 employees with the 50,000-partner networks by 2017.