MotorK raises $10 million for its online car sales solution

New car sales platform MotorK has announced a Series A round of $10 million from 83North, formerly known as Greylock IL, with participation from Zobito.

The London-based MotorK’s products assist buyers and car dealers of new cars through its car marketplace DriveK and SaaS platform for dealers, DealerK.

The European market saw around 14.6 million new car sales in 2016 and the company is seeing triple-digit growth year-on-year, it said. With this new funding, MotorK places to launch in more European markets as well as hiring for its forthcoming new office in London.

“Initial steps will include expanding our team in London and adding more tools to our suite of products available to auto dealers and manufacturers,” said CEO Marco Marlia on how the company will invest the funds.

MotorK also has offices in Paris, Milan, Agrigento, Munich, and Madrid.

As part of the deal, Motor K will add five new members to its board: 83 North partners Laurel Bowden and Arnon Dinur; Zobito partners, Måns Hultman and Magnus Lindhe; and venture capitalist Mauro Pretolani.

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