CarSpring, a London, UK-based online marketplace for pre-owned cars, raised €3m in Series B funding.
The company intends to use the funds for expansion throughout Europe, starting in Germany.
Led by Peter Baumgart and Maximilian Vollenbroich, CarSpring provides a peer-to-peer innovative platform for people to buy and sell pre-owned cars, matching potential customers with vendors. Users can choose to buy a car from a hand-picked selection or to sell their used car in two steps. All cars are checked, test-driven by CarSpring inspectors, valued, and delivered to customers for free, and paperwork is handled by the company.
The startup, backed by Rocket Internet, launched in May 2015.