APFusion, Inc., a Champaign, IL-based automotive B2B marketplace and SaaS company focused on modernizing the auto salvage industry, secured $6.5m in seed financing.
The round, which brought total financing to $7m, was co-led by Left Lane Capital and Bedrock Capital, with participation from existing investor M25. In conjunction with the funding, Derek Urben, an Investor at Left Lane Capital, is joining the APFusion Board of Directors.
The company intends to use the funds to build out its organizational infrastructure with a focus on its engineering division.and its business reach.
Led by CEO & Founder Alex Smith, APFusion provides a B2B marketplace connecting new aftermarket parts providers with salvage yards, giving salvage yards that primarily sold used inventory unparalleled access to new inventory. In an effort to expand its offering and provide a more holistic experience for customers and the industry, APFusion is also working to expand its platform to include software tools that accompany its marketplace to provide even further value to its customers and the auto salvage industry.
The APFusion marketplace now offers close to 200,000 products, with the vendor network adding more than 3,500 products per week.
FinSMEs
06/07/2022