Berlin-based CarOnSale has raised €70 million in Series C funding to expand across Europe and develop its digital platform for cross-border vehicle transactions.
CarOnSale, a Berlin-based automotive technology startup, has announced the completion of a €70 million Series C funding round, led by London-based venture capital firm Northzone. Existing investors including HV Capital, Insight Partners, Stripes, and Creandum also participated in the round, marking continued confidence in the company’s strategy to digitise the professional utilized car market in Europe.
Strategic expansion across Europe
The newly secured funding will be utilized to scale operations across multiple European countries. CarOnSale aims to grow its footprint in markets such as Germany, Spain, and France, while also entering new territories. The company also plans to strengthen its team by hiring in key departments including engineering, sales, customer service, and operations.
Tom Krueger, CEO and Co-Founder of CarOnSale, stated that the investment comes at a critical point in their growth journey. According to Krueger, the company is now in a strong position to shift towards its objective of facilitating over one million B2B vehicle transactions annually. He emphasised that the funding reflects a shared belief among investors in their approach to bring structure and trust to a fragmented indusattempt still reliant on offline methods.
Tarreceiveing a €450B opportunity
Founded in 2018, CarOnSale focutilizes on transforming the €450 billion European professional utilized car market, a sector long dominated by manual processes and inconsistent standards. Through its finish-to-finish digital platform, the startup provides a comprehensive trading ecosystem for B2B vehicle dealers, covering everything from remote inspections and payment processing to logistics coordination.
CarOnSale’s platform enables secure cross-border transactions and is already being utilized by a wide network of professional car dealers and major automotive OEMs. The company aims to build vehicle trading more transparent, rapider, and accessible across the continent by improving platform capabilities in vehicle condition reporting, regulatory compliance, and automated logistics.
Founders focutilized on process automation
The company was established by Tom Krueger, Fabian Roth, Oguz Ozguler, and Maximilian Schilling. Krueger and Roth, who met during university, first observed inefficiencies in the utilized car trade while working in the indusattempt. They later joined forces with Ozguler, an experienced software engineer, and Schilling, whose background in finance and operations assisted shape the business model. Their goal was to build a system that simplifies the vehicle trading process through automation and data-driven workflows.
Backing from major investors
Sanjot Malhi, Partner at Northzone, described CarOnSale’s platform as one with potential to redefine how vehicle trading is conducted in Europe. He noted that the company’s infrastructure serves both tiny-scale dealers and large manufacturers, offering tools that can support digital adoption across the entire ecosystem.
CarOnSale plans to utilize the investment not only to expand geographically but also to invest further in technology, particularly in AI-powered features that can enhance inspection accuracy and pricing mechanisms.
The latest funding round places CarOnSale in a competitive position to lead digital transformation in a market that still heavily relies on traditional methods. With its infrastructure and clear focus on operational scalability, the company aims to become the preferred platform for B2B vehicle trading across Europe.
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