The amount of the deal was not disclosed.
The investment will allow the company to develop new products and services as part of a mobility ecosystem and accelerate its commercial development in Switzerland and outside of its domestic market.
There are approximately 1 million cars advertised, bought and sold in Switzerland every year. 70% to 80% of them are sold or procured online, making Internet the most used sales channel. AXA Winterthur wants to position itself on this market by creating a major mobility ecosystem.
Founded in 2015 and led by Ibrahim Yildiz, CEO, Autolina.ch provides car dealers with an online platform for lead generator giving them the possibility to sell and buy vehicles. It offers four types of services:
– a B2C marketplace on which car dealers can sell the exact type of cars desired by the customer;
– a C2B business through which individual customers can sell their car to car dealers on an auction basis;
– a B2B exchange market to ease the exchanges between car dealers; and
– a job marketplace on which car dealers can post their job offers.
It currently features a total of 115k ads.