BacklotCars operates an online wholesale marketplace that lets auto dealers, auto finance companies, and rental car firms buy and sell vehicles without attending physical auctions. The platform offers an end-to-end solution including vehicle inspections, transportation, and inventory finance services. Led by CEO Justin Davis and based in Kansas City, Mo., the company has been expanding its geographic footprint (it grew more than 500% in 2018). BacklotCars raised new capital to accelerate further geographic expansion. The business had $25M in Series B financing, bringing total funding to $38M. The company plans to use the proceeds to continue expanding its geographic presence across markets. BacklotCars operates an online marketplace that enables auto dealers, finance companies, and rental firms to transact used-vehicle inventory without attending physical auctions. The platform connects wholesale buyers and sellers across the United States and provides services to source, transport, finance, and sell used cars. Led by founder and CEO Justin Davis and based in Kansas City, MO, the company has expanded into several new states. It is adding hundreds of new dealers every month as transaction volume has surpassed $100M on an annualized basis. The product aims to streamline wholesale vehicle sourcing and inventory management for dealers and related businesses.

Total raised

$43M

Funding rounds

3

Latest round

Series B

Latest activity

Apr 2019