Carwow operates an online marketplace and content ecosystem (including Auto Express, evo, Driving Electric and Carbuyer) that helps users find new car deals, compare offers and buy directly from trusted dealers. It also runs a large content arm, including a YouTube channel with over 9.4 million subscribers, and offers data-driven tools for dealers such as lead generation, stock sourcing, e-commerce training, marketing and advertising. The company launched its Sell My Car (SMC) feature in 2021 after acquiring Wizzle and says over 10 million customers have used Carwow since inception; nearly £3 billion of cars were bought through the platform last year and £1.8 billion were listed via SMC. Carwow reported a 56% increase in revenue in H1 as more consumers move online to change their cars. With the new funding it plans to scale the SMC service in the UK, introduce SMC to its German operation in 2025, expand product and engineering teams and invest in new technologies to support dealer partners. Founded in May 2013, the group aims to use its content expertise and dealer footprint to drive its commerce services across Europe. carwow operates an online car marketplace and a growing Sell Your Car division that helps buyers and sellers compare and transact vehicles. The company also produces consumer-facing car reviews and content that drive brand awareness. It reported that its Sell Your Car division grew revenue 600% in six months and enabled £4.75bn of car sales in 2021. Annual group revenues rose 63% year-over-year as the Sell Your Car service scaled. Management is investing further in Sell Your Car technology and team while using new media-for-equity deals to expand consumer awareness. The company says these moves aim to bring more customers to its brand and partners, including in markets such as the UK, Spain and Germany. carwow operates an all‑things‑auto platform and recently launched a ‘Sell Your Car’ service after acquiring Wizzle in June. The Sell Your Car product averages about 900 cars listed on the platform daily within six months of launch. The company says it will use new capital to develop the technology powering the offering, ramp up international expansion, and acquire more users. carwow reports strong growth in its home market and has begun testing the Sell Your Car service in Germany with global expansion as an aim. Financially, carwow has raised just over $150 million across its offerings to date. The company is backed by investors including Balderton Capital, Accel, Vitruvian Partners, Episode1, and Daimler. Carwow operates an online marketplace that lets users choose new cars, set specifications and receive offers from franchise dealers. The platform is designed to simplify buying new cars by aggregating dealer offers. Co‑founded by James Hind (CEO), Alexandra Margolis (Creative Director) and David Santoro (CTO), the company is based in London, UK. Carwow raised a strategic financing round of £25M to support growth. The company intends to use the funds to expand operations and business reach and to continue product development. No operating metrics were disclosed in the article. Founded in late 2010 as a car review aggregator, Carwow pivoted to become a site that streamlines buying a new car by letting consumers research, select and configure vehicles before receiving offers from franchised dealers. Users can compare offers based on price, location, dealer ratings and delivery time and then buy directly from registered ‘trusted’ dealers without haggling. Carwow charges dealers based on the volume of cars they sell through the site and says dealers value its highly qualified leads. More than a third of U.K. new car dealers use the platform; since a 2013 relaunch it has seen over £2 billion of new cars purchased through the site and claims it facilitated around 5% of U.K. consumer new car purchases this year. The company employs 140 people at its central London head office and expanded into Germany last year. Carwow says it will use the new funding to support further international expansion.

Total raised

$226M

Funding rounds

8

Latest round

Equity

Latest activity

Jul 2024