Cinch, the British used car platform owned by BCA has announced it has agreed a £50 million ($65 million U.S.) finance facility with HSBC and NatWest banks.

The facility, £35 million from HSBC and £15 million from NatWest, will be used to support the business after its recent pivot from a digital dealership to an automotive marketplace. Cinch.co.uk sells dealers’ stock alongside its own cars in a model that mixes elements of AutoTrader.co.uk and Cazoo.

The funding will be used to buy around 5,000 new vehicles. Cinch says this means, including its partner dealers stock, it will become the U.K.’s largest direct-to-consumer auto platform.

When cinch.co.uk launched last month, it had around 4,100 cars for sale, higher than the 3,100 Cazoo had for sale on the same day. Cazoo has also secured large amount of funding, £450 million so far, which it has used in part to buy Imperial Car Supermarkets top acquire its stock and physical sites to give customers the option of collecting vehicle purchases.

Cinch offers free home delivery and a 14-day money back guarantee and allows consumers to find, buy, finance and part-exchange on its website. Dealers can sell their own stock or buy through BCA’s online auction service and sell cars without ever having seen or taken physical ownership of them.

“This finance facility from HSBC UK and NatWest will allow us to further develop our end-to-end digital offering for consumers,” said Geoffrey Head, cinch’s finance director.

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