Just days after launching its equity crowdfunding campaign on Crowdcube, online marketplace making car buying carwow is set to close the funding round this weekend with more than £4.6 million secured. Founded in 2013, carwow notably helps customers all through the car searching process. It also helps dealers connect with customers who are interested in starting to purchase a car.
“We believe buying a car should be fun, easy and stress-free. But usually it’s time-consuming, confusing and buyers don’t know if they’re getting a good deal. We help car buyers find their perfect new, used or leased car, and buy at a price they’re confident in. We bring customers upfront prices from our network of approved dealers, with absolutely no need to haggle. And it’s great news for dealers too. Through carwow, our dealer partners sell more cars than they could in the showroom alone, while reducing cost inefficiencies and increasing stock turnover.”
carwow noted that it has raised £55 million in equity funding from VC and Daimler. The company also stated it has a number of partners asking about the chance to invest following the recent investment. Funds from the Crowdcube round will go towards the growth and development of carwow’s platform. carwow is currently offering 2.55% in equity at a £178,946,540 pre-money valuation.
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