2 years ago

Carmoola Secures £103.5 Million in Series A and Debt Funding to Scale Car Finance Platform

  • Carmoola, a London-based car finance fintech company, raised £103.5 million in Series A and debt funding

  • The £8.5 million Series A round was led by QED Investors, with participation from existing investors VentureFriends and InMotion Ventures

  • A £95 million debt facility was provided by Natwest

  • The company intends to use the funds to scale the business and support customer adoption, with plans to grow the team to 20 people

  • Carmoola's technology enables a streamlined process that provides buyers with a budget, generates a free history check on the car, and allows payment to be made both instantly online and at the showroom within just 60 seconds using a Carmoola virtual card

  • The company offers additional consumer benefits, value finance that cuts out the middleman, and flexible in-app financing

  • Carmoola will also be launching green discounts in the coming months to incentivize consumers to utilize more sustainable choices.

      • ProblemFinancial Services

      "making credit accessible for car buyers"

      Solution

      "Carmoola's proprietary technology and systems enable a streamlined process that provides buyers with a budget, generates a free history check on the car, and allows payment to be made both instantly online and at the showroom within just 60 seconds using a Carmoola virtual card"

      Covered on