Brazil-based car-auction site has raised BRL55 million ($10.9 million U.S.) in funding to expand its financing capabilities, the company said in a LinkedIn post. promises to sell any car within 24 hours to a network of thousands of dealers via online auction.

The investment round was led by Fasanara Capital, with J Ventures, FJ Labs and Rise Capital also participating. has raised a total of $50.0 million to date, the company said.

Luca Cafici, the company’s CEO, said the funding would help the business to expand vehicle financing.

According to, it closes about 8,000 car transactions a month and is aiming to finance half of all sales on the site by year-end.

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