Cardino raises €1M and launches new C2B EV auction site

Berlin-based EV marketplace startup, Cardino, raises €1 million in pre-seed round and launches a digital platform for auctioning electric vehicles.
Cardino raises €1M and launches new C2B EV auction site

Berlin-based EV marketplace startup, Cardino has raised a €1 million pre-seed round and launched its new online platform.

The platform allows EV sellers to auction their cars to dealerships through its fully digitised sales platform. Covering everything from the valuation process to the final sale, the site has digitised all aspects of the auction preparation with a digital vehicle inspection procedure, powered by Estonian digital registration startup DriveX. Once verified EVs are auctioned to the highest bidder, contracts are drawn up, pre-payment made, and a sale within five days. 

The Pre-Seed round was led by Silence VC and FJ Labs and includes Asymmetric Capital Partners, DEPO Ventures,, Inclimo, Gaingels, and angel investors. 

"With the surge in new electric car sales in the past years, they are now getting to the secondary market. We believe that our platform can revolutionise the way people transact these cars, making it the best possible experience for our users and allowing a better secondary market and circularity potential for used EVs,” says Cardino's CEO, Henrik Sachs.

According to Cardino, in August of this year, it managed nearly €4 million in Gross Merchandise Value (GMV) and saw a monthly growth rate of over 50 percent.

"I am a sucker for marketplace nerds. When I first met the Cardino cofounders, I was very impressed with their deep understanding of marketplace dynamics. They reached €4M in GMV in the first few months! So now we can safely say they are not just nerds but also outstanding operators,” says Borja Moreno de los Rios of Silence VC. 

Lead image via Photo: Uncredited.

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