The English growth investor Northzone is investing in the B2B used car marketplace CarOnSale, which recently attracted attention with the takeover of Alpha Online and investments from well-known investors such as Insight, Stripes and HV Capital.
Industry meeting with an outlook: Alpha Online and CarOnSale launch customer offensive
Alpha Online and CarOnSale presented themselves together for the first time at a customer event in Hamburg's Elbphilharmonie concert hall and presented their vision of an integrated, digital system for the entire used car process.
CarOnSale cooperates with Mercedes-Benz for digital B2B vehicle auctions
CarOnSale and Mercedes-Benz have launched an exclusive B2B auction platform for lease returns that offers commercial dealers in Europe digital, multi-level access to vehicle auctions with fully integrated processing and will be rolled out gradually across Europe.
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.