carwow, raises $55 million to power up “Sell Your Car” division

Carwow, a UK-based all-things-auto platform, has raised $55 million in new funding to expand its “Sell Your Car” service. To date, the company has raised more than $150 million.

The majority of the funds will be used to further enhance the technology that powers the service, accelerate international expansion plans, and attract more customers. Following the acquisition of Wizzle in June of this year, carwow built and launched its “Sell Your Car” service, with an average of 900 automobiles listed every day.

“We’re ecstatic with how fast our users and trade buyers have embraced Sell Your Car, demonstrating the importance of a unified, digital selling and buying experience. Our large client base and brand reach provide us with a tremendous foundation for growth, but this latest investment will help accelerate our service and experience on all fronts,” said founder and CEO James Hind.

Carwow now plans to expand its ‘Sell Your Car’ business beyond UK shores, based on great success in their home market and presumably looking at what the competition is doing. “Following the positive findings and lessons learned in the United Kingdom, we’ve started testing in Germany. Ultimately, like the rest of the carwow business, our goals are worldwide.” James added.

News Source: Tech.eu

Image Source: carwow