Autozen operates a used-car selling marketplace that lets sellers receive competing offers from hundreds of pre-vetted professional buyers. Once a seller accepts an offer, Autozen manages the paperwork, payment and pick-up. The company is led by CEO and co-founder Olivier Vincent. Autozen is expanding beyond its Vancouver origin into Toronto, Calgary and Edmonton, and is launching its presence in the U.S. starting in the Greater Seattle Area. The company closed a seed round of over $5M to accelerate expansion into new markets in Canada and the U.S. The round was led by Vanedge Capital with participation from Anges Québec, several super-angels and existing investors. Autozen is building a consumer-to-business auto retail platform that auctions vehicles to create competition among buyers and deliver better valuations to sellers. The platform incorporates third-party valuation data from CarFax and Canadian Black Book and aims to provide firm offers within 24 hours of listing. Autozen is currently in private alpha/beta and hosted its first auction while onboarding 50 buyers. The company raised C$4.2 million in seed financing and intends to use the funds to build team capabilities. It has announced hires including COO Kalle Radage, CTO Xichi Zheng, and business development manager Kevin Bent. Autozen was founded in 2020 in Vancouver and plans a launch in the Greater Vancouver Area between now and spring 2021 with longer-term expansion to the Greater Toronto Area and nationwide ambitions.

Total raised

$8M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2022