Auto1 Group, a Berlin, Germany-based operator of used-car marketplace, raised €360M in funding.
Backers included Princeville Global, Target Global and Baillie Gifford & Co.
The funding is also comprised of debt financing in cooperation with JP Morgan, Goldman Sachs, Barclays, CITI, BNP Paribas and BHF Bank.
The company, which was valued at €2.5 billion in its latest round of funding, intends to use the capital to focus on further penetrating European markets.
Founded in 2012 and led by Christian Bertermann, Auto1 Group is a used-car marketplace with its own certified and diversified inventory and a technology platform that allows buyers and sellers to connect and trade seamlessly. The group, which owns business units like AUTO1.com, Autohero.com or wirkaufendeinauto.de, operates in more than 20 countries. In 2016, it reported revenue of 1.5 billion euros, compared with 750 million euros the previous year.