Greg Spencer | December 09, 2019 | Automotive, Financials / Deals
Online used-car marketplace Vroom has raised $254 million, bringing the firm’s total funding to date to $721 million. The round was led by a new investor in Vroom: Durable Capital Partners LP. Other participants included funds and accounts managed by T. Rowe Price...
Ben Salisbury | December 09, 2019 | Automotive
Spoticar, a used car brand that operates across Europe, will launch in the U.K. next year. The platform brings together seven separate used-car operations, including Peugeot Lion, Citroën Select, Opel and Vauxhall NetworkQ, under a single brand. Launched in France in...
Prabhu | December 09, 2019 | Automotive
Mumbai-based used motorcycles marketplace CredR has raised $6 million U.S (₹38 crores) from Omidyar Network, an Indian investment firm run by Pam and Pierre Omidyar, the founder of EBay. Existing investors Eight Roads Ventures, GrowthStory and AngelList also...
Tariq Ahmed Saeedi | December 09, 2019 | Automotive, Financials / Deals
ICar Asia, an operator of auto marketplaces across Southeast Asia, expects revenue to grow by 50% year-on-year in 2020. The company’s predictions are based on consistent growth in its core businesses and anticipated returns on its recent acquisition of Carmudi...
Rebeka Shaid | December 09, 2019 | Automotive, Marketplaces
Former Daimler CEO Dieter Zetsche has invested in German auto marketplace startup CarOnSale, according to a report by online magazine Gründerszene (in German). It is not known how much the Zetsche invested in the company. Zetsche, a well-known figure in the auto...
Rebeka Shaid | December 06, 2019 | Automotive
A record year for Volkswagen Financial Services, the company behind German auto vertical HeyCar, will likely lead it to expand HeyCar into new European markets. In August, the Berlin-based company launched in the U.K., a major step toward international expansion. In a...
