Caroobi, a German startup that partially digitalizes the auto repair process, has raised €20 million ($23.5 million U.S.) from a group of investors. NGP Capital — the investment arm of Nokia — led the Series B round which included Target Global and existing investors BMW iVentures, DN Capital and Cherry Ventures.

Founded in 2015, Caroobi allows private auto owners to book appointments for maintenance, repairs, and inspections at local repair shops, at fixed prices. Owners enter the details of the service they need and receive binding offers from partner mechanics nearby. Payment is made through the site.

Caroobi cofounders and MDs Nico Weiler and Mark Michl (courtesy of Caroobi GmbH)

The company has contracts with 750 certified mechanics throughout DACH (Germany, Austria, and Switzerland), its current market. Users can also call Caroobi for a free diagnostic check. The site employs 30 mechanics and claims to have an 80 percent accuracy rate, according to a news release. The site processes around 2,000 vehicles a month and is doubling business monthly, TechCrunch reports.

The platform also recently launched a spare parts marketplace, whereby it sources and sells used parts to repair shops, with guarantees. It also enables financing.

The site plans to expand in Europe, starting in the U.K. soon.

Caroobi has numerous competitors in Germany and joined the party late. No. 2 German auto portal AutoScout24 launched its “Werkstatt” service in 2011, a year after AutoButler started in Denmark (it rolled out to Germany in 2014). AutoButler is now majority-owned by French auto manufacturer PSA Group., a subsidiary of Bosch, came along in 2013 — followed by, a platform started by the DAT (the German equivalent of Kelly Blue Book), in 2014.

The crowded market is no doubt why Caroobi has expanded its business model to b-to-b used parts. It’s also signaled it intends to be an early player in electric auto repairs (in German).

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