Volvo Cars Tech Fund invests in online marketplace carwow
Volvo Cars Tech Fund takes a strategic minority investment in online marketplace carwow
Volvo Cars has taken a strategic minority stake in carwow through the Volvo Cars Tech Fund, its venture capital arm. carwow are a leading online marketplace for buying and selling cars.
Currently carwow is the largest web platform for new car sales in the UK, Germany and Spain, together with large a large social media following (facebook 827k followers; twitter 50k followers; Instagram 1.1m followers; youtube 7m followers). In terms of selling new cars, CarsVansandBikes.com is a contender and has recently launched a service for all franchised dealers where they can advertise all their brand new or pre-registered vehicle stock up to end of 2022 completely free of charge.
The investment will allow Volvo to gain insight into the carwow online sales channels which will prove invaluable to the drive towards direct sales on new vehicles online together with a much closer relationship with the customer.
The Volvo Cars investment, which is undisclosed, comes hot on the heels of £17.2m in new investment in and earlier investment round in March this year. At that round carwow existing investors including Vitruvian, Balderton and Accel, provided the majority of the equity investment alongside Hercules Capital which provided a £40m debt capital facility in December 2021.
Notes to the editor
For further information please contact:
Sonia Mattis or Kevin Stewart at news@carsvansandbikes.com
Keep up-to-date with CarsVansandBikes.com on Twitter; @Carsvansbikes
or follow us on Linkedin: www.linkedin.com/company/carsvansandbikes
Revolutionizing Vehicle Search with Fairness and Transparency
The digital quest for the perfect vehicle—be it a car, van, or motorbike—has been transformed by CarsVansandBikes.com. Launched in 2021, this digital advertising platform has rapidly become a go-to destination for motorists seeking new or pre-owned vehicles. True to its ethos, "As easy as CVB," the platform simplifies the search process, making it more accessible and user-friendly.
What sets CarsVansandBikes.com apart is its foundational commitment to unbiased advertising. Unlike other platforms where sponsored listings skew visibility, CVB presents all vehicles without undue influence. This principled stance guarantees a transparent and fair experience, ensuring users find the right vehicle based on its merits, not its marketing budget.
Our commitment to the community is clear and steadfast: for personal consumers and private motorists, advertising on CarsVansandBikes.com is, and will always be, completely free. This initiative breaks down financial barriers and empowers individuals to sell their vehicles directly to a wide audience.
To build a sustainable, high-quality marketplace featuring both private and professional sellers, we now charge a fee to motor dealers. This balanced approach ensures we can continue to invest in and improve the platform for everyone, while honouring our original promise to our private user community.
By fostering direct connections between sellers and buyers and providing deep, detailed vehicle information, CarsVansandBikes.com goes beyond a transactional relationship. It creates an informed community where everyone is equipped to make the best possible choice.
As CarsVansandBikes.com continues to grow, its impact is undeniable. With its user-friendly interface, unwavering commitment to unbiased listings, and innovative model that keeps the platform free for private sellers, CVB represents a paradigm shift in how we find and advertise vehicles.