CARS24, India’s leading autotech platform, has announced the elevation of Divanshu Saxena to the role of Chief Business Officer (CBO) at CARS24 Financial Services Private Limited (CFSPL), which operates the company’s NBFC business under the LOANS24 brand.
In his expanded role, Saxena will be responsible for driving strategy, growth, and execution across CARS24’s financial services portfolio. His mandate includes scaling lending operations while reinforcing profitability, risk management, and institutional strength, as the company continues to build a resilient and sustainable financial services platform.
Saxena currently leads the consumer financing vertical at LOANS24 and has played a pivotal role in shaping one of CARS24’s most robust and profitable businesses. Under his leadership, the lending division has recorded strong growth in finance penetration, improved returns, and increasing contribution from non-retail lending segments, all while maintaining disciplined unit economics and high portfolio quality.
The leadership elevation underscores CARS24’s focus on strengthening its financial services capabilities as a key growth driver within its broader digital automotive ecosystem.
Known for his first-principles approach to problem-solving, Divanshu brings a combination of strategic clarity and execution rigor. His ability to simplify complexity, challenge assumptions, and build scalable systems has helped position CFSPL (LOANS24) as a fast-growing, profitable, and resilient financial services business that competes effectively with established banks and NBFCs.
Speaking 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.”
Commenting on his elevation, 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.”
Before joining CARS24, Divanshu worked as a Project Leader at Boston Consulting Group (BCG), where he was part of the Financial Services and Industrial Goods practice. He is an alumnus of Indian Institute of Management Calcutta (IIM Calcutta), where he graduated with Institute Rank 3 and a Silver Medal, and Shri Ram College of Commerce (SRCC), University of Delhi, where he completed his bachelor’s degree in commerce with merit.
With this elevation, Divanshu strengthens CARS24’s leadership bench as the company continues to scale its financial services platform and deepen its presence across vehicle financing in India.
