Beepi, a Los Altos, CA-based peer-to-peer marketplace to buy and sell cars online, closed a $12.7m funding round.
Backers included 86 investors from the entertainment and financial communities on AngelList, via Gil Penchina’s syndicate, who have committed $2.7m, Digital Sky Technologies co-founder Yuri Milner and SAB Capital Management CEO and founder Scott Bommer.
This funding, which came on the heels of the company’s $60 million Series B round from Foundation Capital and SherpaVentures (read here), will allow the company to continue to expand its offerings and simplify the process for buyers and sellers alike.
Founded by Ale Resnik, CEO, and Owen Savir, COO, Beepi allows consumers to buy or sell a car completely online without fear of overpaying. It currently delivers cars to 140 US cities and receives over 1,000 requests a week to sell cars from residents in the San Francisco Bay Area alone.