Dealcar, the platform that digitizes and optimizes the buying and selling of used cars for dealerships of any size, has closed a €3 million seed round. The goal is to strengthen its position in the Spanish market and begin its European expansion into key markets such as France, Italy, and Germany. Additionally, part of the raised funds will be used to increase the penetration of Dealcar Pay, its all-in-one payment solution that facilitates faster, safer, and more efficient transactions for both dealerships and buyers, aiming to become the go-to payment method for used car purchases.
The round has been led by Entourage (Belgium) and 4Founders Capital, with other national and international investors like Itnig Capital, Demium Capital, and Bynd. Angel investors like Toubkal Partners, Alexandre Guinefolleau, CEO of Amenitiz, and Carles Marcos, Country Manager of Qonto, have also participated.
Carlos Horno and Sergio Guisado, co-founders of Dealcar, state: "We aim to be the operating system on which every used car transaction will take place in the very near future. Our goal is to reduce the stock turnover time from 90 days to half, providing liquidity and confidence to the used car market”. They add, “This capital injection allows us to accelerate our growth, reinforce our technology, and further improve the experience of our users”.
Jesus Monleon, founding partner of 4Founders Capital, explains: “Dealcar is the only platform in Europe that integrates all aspects of the vehicle buying and selling process and is demonstrating a strong ability to automate the sector and respond to the urgent need for modernization. With this round, in addition to strengthening its position in Spain, it lays the groundwork for its international expansion”.
Jorge Dobón, founder and CEO of Demium Capital, adds: “At Demium VC, we focus on identifying and supporting entrepreneurs with a clear vision and exceptional execution capabilities. Dealcar has demonstrated a deep understanding of the used car market's needs and a solid strategy to digitize and optimize this sector. We are confident that their innovative approach and dedicated team will enable them to lead the transformation of the industry in Europe”.
Digitizing the used car dealership sector
Dealcar is the all-in-one platform that digitizes and optimizes the buying and selling of used cars for dealerships of all sizes, from large groups to independent dealers. The platform allows the centralization of stock across multiple portals and channels, unification and management of contacts, connection with financial institutions, payment receipt, and offering additional services like insurance, warranties, and logistics. Additionally, Dealcar works with over 150 dealerships and manages around 8.000 cars daily.
The platform combines fintech technology to manage payments, financing, and other services related to the sector through an omnichannel solution, enabling both physical and online transactions. Furthermore, Dealcar aims to expand its solutions through new agreements with financial institutions to make it easier for dealerships to access financing.
Image credit: Dealcar