Germany's Caroobi, an online platform that connects car mechanics with both customers and car parts sellers, has raised a $20 million Series B funding round led by NGP Capital. The company, which has picked up north of $35 million in funding to date, plans to use the latest capital injection to kick off its international expansion.
Founded in Berlin in 2015, Caroobi is developing a comprehensive platform that connects the main parties in the car repair process.
For the end customers, Caroobi is a place to book an appointment with one of the 750 certified mechanics across Germany, Austria, and Switzerland. The startup also employs more than 30 in-house specialists whose task is to diagnose the client's issue remotely. According to the company, the team manages to correctly diagnose the malfunction in 80 percent of cases. Caroobi also offers the customers full price lists and a warranty on all repairs.
For the car mechanics, the platform provides an easy way to set up shop online and manage customers, orders, and appointments. In addition to that, Caroobi has recently launched a marketplace for replacement car parts to make the purchasing process for repair shops more transparent and cost-effective.
Expanding the spare parts marketplace to France and the UK is going to be the main focus for Caroobi in the near future, the startup stated in a press release.
“Due to a parts distributor network of over 1,000 in Germany alone, our platform has seen growth above 100 percent month over month since launch,” said Mark Michl, Caroobi's founder and managing director.
Caroobi currently employs more than 130 people, while its partner mechanics repair over 2,000 cars every month.