CARS24 elevates Divanshu Saxena as CBO for financial services business LOANS24

CARS24 has announced the elevation of Divanshu Saxena as Chief Business Officer (CBO) for CARS24 Financial Services Private Limited (CFSPL – LOANS24), the company’s NBFC arm.

In his new role, Divanshu will lead the strategy, growth, and execution of CARS24’s financial services business. His mandate will focus on scaling lending operations while strengthening profitability, risk discipline, and institutional robustness, as the company continues to build a resilient and sustainable financial services platform, stated a press release.

Divanshu currently heads the consumer financing business for LOANS24 by CARS24 and has been instrumental in building one of the company’s strongest and most profitable verticals. Under his leadership, the lending business has seen strong growth in finance penetration, healthy returns, and a growing contribution from non-retail lending, while maintaining disciplined unit economics and portfolio quality.

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.