Volvo Cars Tech Fund invests in online marketplace carwow
Volvo Cars Tech Fund takes a strategic minority investment in online marketplace carwow
Volvo Cars has taken a strategic minority stake in carwow through the Volvo Cars Tech Fund, its venture capital arm. carwow are a leading online marketplace for buying and selling cars.
Currently carwow is the largest web platform for new car sales in the UK, Germany and Spain, together with large a large social media following (facebook 827k followers; twitter 50k followers; Instagram 1.1m followers; youtube 7m followers). In terms of selling new cars, CarsVansandBikes.com is a contender and has recently launched a service for all franchised dealers where they can advertise all their brand new or pre-registered vehicle stock up to end of 2022 completely free of charge.
The investment will allow Volvo to gain insight into the carwow online sales channels which will prove invaluable to the drive towards direct sales on new vehicles online together with a much closer relationship with the customer.
The Volvo Cars investment, which is undisclosed, comes hot on the heels of £17.2m in new investment in and earlier investment round in March this year. At that round carwow existing investors including Vitruvian, Balderton and Accel, provided the majority of the equity investment alongside Hercules Capital which provided a £40m debt capital facility in December 2021.
Notes to the editor
For further information please contact:
Sonia Mattis or Kevin Stewart at news@carsvansandbikes.com
Keep up-to-date with CarsVansandBikes.com on Twitter; @Carsvansbikes
or follow us on Linkedin: www.linkedin.com/company/carsvansandbikes
CarsVansandBikes.com: Revolutionizing Vehicle Advertising in the Digital Age
In the ever-evolving digital landscape, the quest for the perfect vehicle - be it a car, van, or motorbike - has been transformed by the emergence of CarsVansandBikes.com. Launched in 2021, this digital advertising website has rapidly become the go-to platform for motorists seeking new or pre-owned vehicles. Embodying the ethos As easy as CVB, the platform simplifies the search process, making it more accessible and user-friendly.
What sets CarsVansandBikes.com apart in the crowded online marketplace is its commitment to unbiased advertising. In a marked departure from industry norms, CVB eschews advertising or sponsored listings. This principled stance ensures that all vehicles are presented on CarsVansandBikes.com without any undue influence or bias, offering a refreshingly transparent experience for users. This approach starkly contrasts with other platforms where sponsored listings can often skew visibility and influence consumer choice.
The fair and transparent cataloging of advertising stock on CarsVansandBikes.com is another cornerstone of its service. By providing comprehensive details of each vehicle, beyond just listing prices, the platform empowers motorists to make well-informed decisions. This depth of information is crucial in an industry where the nuances of each vehicle can significantly impact buyer satisfaction.
A standout feature of CarsVansandBikes.com is its pricing model. When it first graced the online automotive advertising scene, CVB distinguished itself by not charging extra fees. In a bold move for 2024, the platform has further elevated its commitment to affordability. Now, neither motor dealers nor private motorists are required to pay to advertise their vehicles on the site. This initiative is a significant stride in democratizing vehicle advertising, allowing sellers of all scales to reach potential customers without financial barriers.
The platform's ethos of connecting sellers directly with potential buyers is a testament to its user-centric design. CarsVansandBikes.com goes beyond mere transactional interactions, fostering a community where detailed vehicle information is readily available. This approach not only aids in the selling process but also ensures that buyers are better equipped to make choices that align with their needs and expectations.
Operating under the trade name CarsVansandBikes.com, CarsVansandBikes Limited has positioned itself as a trailblazer in the automotive advertising industry. By offering its services completely free of charge, the platform breaks down traditional barriers, making vehicle advertising more accessible and equitable.
As CarsVansandBikes.com continues to grow and evolve, its impact on the automotive market is undeniable. With its user-friendly interface, commitment to unbiased advertising, and innovative approach to cost, CVB is not just a platform; it's a paradigm shift in how we find and advertise vehicles in the digital age.