Berlin-based electric vehicle (EV) marketplace Cardino has closed a €1.0 million ($1.07 million U.S.) pre-seed investment round led by Silence VC and FJ Labs. Asymmetric Capital Partners, DEPO Ventures, Voyagers.io, Inclimo Climate Tech Fund and Gaingels also participated.
Cardino, which connects EV sellers to dealerships through auctions, also announced the launch of a new website to streamline these transactions.
“With the surge in new electric car sales in recent years, they are now getting to the secondhand market. We believe that our platform can revolutionize the way people sell these cars,” said Cardino CEO Henrik Sachs.
Cardino covers every step of the sale, from valuation to the final paperwork, and includes a digital inspection of the vehicle handled by Estonia-based startup DriveX. Once this verification process is completed, the EV is auctioned, with the highest bid presented to the seller.
“Investing in Cardino’s platform is not just a strategic financial move. It signifies a strong commitment to combating climate change, pushing forward sustainable transportation and championing a greener future,” said Fernando Casado, co-founder of Inclimo Climate Tech Fund.
Since its establishment in December 2022, Cardino has reached over 1,000 EV sellers and currently works with more than 100 dealers. In August 2023, its gross merchandise value was almost €4.0 million.