Kyump, a marketplace for used cars, has raised €2.4 million in a round led by Breega Capital with participation from Kima Ventures, 123 Investment Managers, and angel investors, Yannis Yahiaoui, (founder of Adotmob) and Edouardo Ronzano (founder of KelDoc).
The Kyump marketplace is for the sale of second-hand cars with sales guaranteed for six months. The marketplace is available in Paris, Lyon, Nantes, and Rouen. It charges 5% commission, which according to the company is lower than the 30% typically seen on other similar marketplaces. It added that it facilitates the sale of around 100 vehicles a month.
The new funds will be invested in product development and tripling its workforce to 70 people by hiring more data scientists, JS developers, and product managers.
It will launch in new regions in France throughout 2018 before eventually launching in an international market.