Carwow valued at £250m
15 July 2024
Carwow has secured backing from Bessemer Venture Partners, one of the world’s oldest venture capital firms, in a funding round that values the online marketplace at £250m. San Francisco-based Bessemer was an early backer of LinkedIn and Pinterest.
Existing shareholders Accel, Balderton, Episode 1 and Vitruvian also invested in the funding round of $52m.
Chief executive John Veichmanis said H1 2024 sales had risen 56% and the company was now breaking even.
“We’re excited to use this new funding to take our proposition to our existing businesses in Germany and Spain.”
Carwow, which is based in London, bought Autovia earlier this year, whose brands include Auto Express and Evo.
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