Automotive marketplace Roadra has raised $5 million U.S. in angel funding to strengthen its c-to-b business model.

Founded in 2019 and based in the U.S., Roadra connects car sellers to dealers. Last year, it launched used-car auction for dealers to bid on more than 3,000 vehicles each month.

More than $80 million of bids have been placed so far with sales growing an average 70% month-on-month, according to Roadra’s investment announcement.

In comparison, c-to-b site Carmigo auctioned 4,000 cars in two years of operation.

With the investment from undisclosed investors, Roadra plans new SaaS product for AI-powered photo and video inspections and hiring new team members.

“This is the beginning of a new category of auto auctions. Thousands of dealers are actively sourcing from consumers and they can often beat online instant-offers. We can connect this group of dealers with online sellers in a fast and familiar format,” said Satchel Kolde, its CEO and co-founder.

“Massive auctions exist to reallocate inventory from dealer to dealer. We use auction-grade car profiles created at home to match consumers with the optimal end-user dealer, getting a better deal for both buyer and seller.”

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