Carwow, a London, UK-based car marketplace, raised £25m strategic financing round.
The round was led by Daimler with participation from Balderton, Accel and Vitruvian. In conjunction with the funding, Daimler executive Axel Harries will join Carwow’s board of directors.
The company intends to use the funds to continue to expand operations and business reach and for product development.
Co-founded by James Hind, CEO, Alexandra Margolis, Creative Director, and David Santoro, CTO, CarWow is a platform for buying new cars from franchise dealers. The marketplace allows users to choose the car, specifications and features, and then receive offers from dealers.