CarOnSale raises €70 million in Series C - Northzone joins as new investor
CarOnSale, the leading digital B2B marketplace for used car trading, has successfully closed a €70 million Series C round. The round was led by new investor Northzone, together with existing lead investor HV Capital, and was further supported by Insight Partners, Stripes, and Creandum.
CarOnSale receives 70 million euros in Series C - Northzone joins as new investor
CarOnSale, the leading digital marketplace for B2B used car trading, has successfully closed a Series C round totaling €70 million. The round was led by Northzone as new lead investor together with existing investor HV Capital and received additional support from Insight Partners, Stripes and Creandum.
The new guaranteed price already supports CarOnSale sellers when purchasing used cars and eliminates the purchase risk through a guaranteed remarketing price of the respective vehicle on the auction platform.
The ongoing Corona pandemic and the chip shortage significantly affected used car dealers in 2021. The slumps are not as severe as many expected, however.