CarOnSale Secures $82M in Series C Funding
Deal News | Jul 09, 2025 | Aim Group
CarOnSale, a Berlin-based B2B auction platform for used cars, has successfully closed a $82 million Series C funding round, led by NorthZone with participation from existing investors HV Capital, Insight Partners, Stripes, and Creandum. Founded in 2018, CarOnSale specializes in facilitating transactions between licensed dealers and OEMs with professional buyers across Europe. The platform aims to utilize the new funds to deepen its market penetration in core areas, expand its reach into new territories, enhance its team, and bolster its digital infrastructure. This latest financial infusion increases CarOnSale's total funding to $135 million. According to co-founder and CEO Tom Kruger, the Series C round validates their business model and sets a strong foundation for accelerated growth across Europe. NorthZone partner Sanjot Malhi emphasizes CarOnSale's potential to revolutionize the car auction industry by integrating AI into its operations, making it a transformative option for both small businesses and large OEMs.
Sectors
- Automotive
- Technology
- Finance
Geography
- Germany – CarOnSale is based in Berlin, Germany, making it a significant location for this business operation.
- Europe – The company caters to markets across Europe, indicating its geographical focus on expanding and deepening presence in this region.
Industry
- Automotive – CarOnSale operates in the automotive sector, specifically focusing on the auction and sale of used vehicles within Europe.
- Technology – The company is incorporating AI into its platform to enhance the business-to-business auction process, indicating a strong technological component.
- Finance – The article discusses a significant Series C funding round, involving multiple PE and VC firms.
Financials
- 82 million – The amount raised in the Series C funding round.
- 135 million – Total funding raised by CarOnSale to date.
- 51 million – The amount raised in the Series B funding round in 2021.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CarOnSale | Target Company | Company | A Berlin-based B2B auction platform for used cars. |
| NorthZone | Lead Investor in Series C | Company | A venture capital firm leading the Series C funding round. |
| HV Capital | Existing Investor in Series C | Company | A venture capital firm participating in the Series C round. |
| Insight Partners | Existing Investor in Series C | Company | A global venture capital and private equity firm participating in the funding. |
| Stripes | Existing Investor in Series C | Company | A growth equity firm involved in the funding round. |
| Creandum | Existing Investor in Series C | Company | A venture capital advisor that participated in the latest funding. |
| Tom Kruger | Co-founder and CEO | Person | Co-founder and CEO of CarOnSale, overseeing its strategic vision. |
| Castle Tech GmbH | Operating Company | Company | The operating entity under which CarOnSale functions. |
| Sanjot Malhi | Partner at NorthZone | Person | A NorthZone partner involved in the investment decision. |