BacklotCars, a Kansas City, Mo.-based online wholesale automotive marketplace, raised $25m in Series B funding.
The round, which brought total funding to $38m, was led by Stripes, with participation from existing investors Origin Ventures, Pritzker Group Venture Capital, Revolution’s Rise of the Rest Seed Fund, Royal Street Ventures, KCRise Fund, and Chaifetz Group.
The company intends to use the funds to continue to expand its geographic presence further.
Led by Justin Davis, CEO, BacklotCars is an online marketplace for auto dealers. Through BacklotCars, auto dealers, auto finance, and rental car companies can transact without having to go to physical auctions. The company’s end to end solution provides dealers with vehicle inspections, transportation, and inventory finance services.
In 2018, the company expanded its geographic footprint by more than 500%.