2 years ago

Carmoola Raises £15.5M to Disrupt UK Car Finance Market

  • Carmoola, a UK-based car financing company, has secured a £15.5 million equity investment

  • This follows its £8.5 million Series A round and £95 million debt facility in February 2023, bringing its total funding to £157.4 million

  • Carmoola aims to revolutionize the car finance market by offering a more user-friendly and transparent experience for buyers

  • The company will use the new funding to expand its reach in the UK's £100 billion used car finance market, which is expected to grow to £190 billion by 2027

  • The investment came from QED Investors, VentureFriends, InMotion Ventures, AlleyCorp, and u.ventures.

      • ProblemFinancial Services

      "Traditional car finance companies often have complicated processes, lack transparency, and aren't focused on the needs of the customer, making it difficult for people to get a fair deal."

      Solution

      "Carmoola offers a user-friendly app that simplifies the car finance process, providing transparency and control to customers, allowing them to find the best financing options."

      Covered on