Berlin-based B2B marketplace for professional used car trading´CarOnSale has just closed a €70 million Series C round led by Northzone, with participation from existing investors HV Capital, Insight Partners, Stripes, and Creandum.
CarOnSale is transforming the professional used car trade through a fully integrated software ecosystem that connects professional car dealers and OEMs across borders.
With software solutions and services such as vehicle inspections, logistics, and payment processing, CarOnSale streamlines the entire transaction process, making it more efficient, secure, and transparent in a market that has long been highly fragmented.
“This Series C is a major milestone for CarOnSale and a strong signal of trust in our business model and team,” says Tom Krüger, CEO and Co-Founder of CarOnSale.
“We would like to thank Northzone, HV Capital, and our existing investors for their support and shared confidence. With this strong backing, we now have the perfect foundation to accelerate our growth across Europe even faster.”
According to Sanjot Malhi, Partner at Northzone, CarOnSale is building a category-defining pan-European platform in one of the deepest markets on the continent.
“Their end-to-end software is transformative for small businesses and the world's largest OEMs alike. It’s our privilege to partner with Tom and the team, and believe the company has the potential to bring AI to an archaic industry and create a truly generational outcome.”
With this new funding, CarOnSale plans to drive its European expansion, deepening its presence in existing core markets while entering new countries. In parallel, CarOnSale will expand its team and further develop its digital infrastructure to enable seamless and efficient cross-border vehicle transactions.
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