Dealerdirect, an Enschede, Netherlands-based online marketplace for second-hand vehicles, secured €8m in funding.
The company intends to use the funds for further geographic expansion in Europe and abroad beyond the Netherlands, Belgium and Germany.
Led by Niels Oude Luttikhuis, CEO, Dealerdirect operates under the brands www.ikwilvanmijnautoaf.nl in the Netherlands and Belgium and www.ichwillmeinautoloswerden.de in Germany.
Launched in 2007, the company allows consumers to connect directly with automotive dealers. Nearly 10.000 automotive dealers bid in an auction process for a customer’s car on the basis of the highest offer.
The auction process is free of charge and the company offers a direct service – 24 hours a day, seven days a week.