10 years ago

Carwow Secures £12.5 Million Series B Led by Accel to Drive Growth in the U.K. Car Market

  • Carwow, a U.K

  • startup that provides a platform for buying new cars, has raised £12.5 million in Series B funding led by Accel

  • The company aims to simplify the car buying experience by allowing consumers to compare offers from dealerships and purchase directly, eliminating the need for haggling

  • Carwow's approach has proven successful, with high-quality leads being generated for participating dealerships

  • The new funding will be used to increase marketing efforts, including television advertising, to build brand awareness and reach a wider audience

  • Carwow faces little direct competition in the new car buying market, and its unique proposition combined with partnerships with dealerships makes it a strong contender in the industry.

      • ProblemTechnology

      "Buying a new car can be a stressful and time-consuming process. Consumers often feel overwhelmed by the amount of information available and are unsure if they are getting a good deal. Traditional dealerships often provide a headline price and follow up with a claimed discount, but it is difficult to compare offers and know if you are getting a good deal."

      Solution

      "Carwow is a platform that allows consumers to compare offers from trusted dealerships online and buy directly from them. Users can build the car they want and receive offers from multiple dealerships. They can then compare offers by price, location, dealer reviews, and availability. This process makes it easy for consumers to find the best deal and avoid the hassle of haggling with dealerships."

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