Rodo operates an ecommerce platform that lets consumers lease or buy cars entirely online using its proprietary “Instant Quote” technology. The company leverages thousands of dealer partners nationwide and lists tens of thousands of vehicles with transparent, best-in-market pricing and personalized concierge services including free delivery and pick-up. Rodo’s platform is designed to provide a fully online retail automotive transaction and a digital extension for dealership partners. The company was founded in New York in 2016 as Honcker and has been backed by investors including IAC/InterActiveCorp and Evolution VC Partners. Rodo has raised $45 million in funding to date and recently closed an oversubscribed Series B that added $18 million. The new capital is intended to help scale the network nationwide and fund marketing and customer acquisition. Honcker operates a platform and mobile app that aggregates leasing options and lets consumers search, compare and consolidate their lease applications in one place. The company focuses on new-car leases and partners with existing dealerships rather than holding inventory itself. A new app release adds more search parameters, options to break or extend leases, and the ability to add co-signers. Honcker is live with over 250 dealerships across eight states, including Arizona, California, Florida, Nevada and New York. The business has been growing transaction volume roughly 25% month-over-month and has expanded largely through word-of-mouth with almost no marketing spend. The company emphasizes a lean approach to growth and avoiding heavy inventory or over-leveraging. Honcker operates an online car-leasing marketplace and mobile app that enables consumers to obtain an actual lease price and complete a lease transaction from start to finish. The service offers next-day delivery in the New York Tri-State Area, Los Angeles, Arizona, Nevada, Pennsylvania and Florida. The app lists more than 30,000 vehicles from 20 manufacturers available for immediate lease, sourced from over 200 dealers. Led by founder and CEO Nathan Hecht, Honcker plans to use the new funding to expand its dealership network and geographic presence, grow its customer base, and develop additional features to streamline the car-leasing experience. The company raised $3.6M in funding to support these plans.

Total raised

$37M

Funding rounds

3

Latest round

Series B

Latest activity

Jul 2021