Motorway, a London, UK-based price comparison website for selling a car, secured £2.75m in seed funding.
The round was co-led by LocalGlobe and Marchmont Ventures, with participation from Alex Chesterman (Zoopla founder and CEO), Duncan Jennings (founder of VoucherCodes.co.uk), and early Spotify investor Shakil Khan.
The company intends to use the funds to enable further development of its software platform, expansion of its network of car buyers and wider promotion of the service throughout the UK.
Launched in 2017 by Tom Leathes, Harry Jones and Alex Buttle, Motorway is a price comparison site for selling cars that enables owners to compare multiple instant offers for their vehicle and find the best deal in seconds. Consumers can compare headline offers, read buyer reviews, collection criteria, fees and payment methods before choosing their best deal.
The company currently has over 25,000 monthly customer sales enquiries.