CARS24 Achieves Full Digital Loan Servicing with Pennant Technologies’ Cloud-Native Lending Platform

Leading digital automotive marketplace modernises lending operations through digital-first architecture and large-scale data migration.

CARS24, a leading digital automotive marketplace, has transformed its lending operations by implementing pennApps Lending Factory (PLF), a cloud-native, digital-first loan servicing platform. The transformation marks a key milestone in CARS24’s digital journey, enabling 100% digital loan servicing, improved agility, and enhanced customer experiences.

As its lending business scaled, legacy servicing systems created operational inefficiencies and limited scalability. To address these challenges, CARS24 deployed Pennant’s composable, API-first loan management platform designed for high-growth digital lenders. The solution delivers enterprise-grade stability, seamless integrations, and nationwide scalability, while enabling asset-centric servicing and API-driven collections for smarter lifecycle management.

“Our partnership with Pennant Technologies has been instrumental in re-architecting our servicing operations,” said Co-Founder & Group CFO, CARS24. “The new digital lending platform provides the scalability, flexibility, and speed required to deliver superior customer experiences and drive innovation across our lending business.”

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