INSUBCONTINENT EXCLUSIVE:
again, and this time they want to make it infinitely easier to sell your used car online.To help with that mission, the young company, which
Ventures (the VC fund of Hugo Burge, former CEO of Momondo, which sold to Priceline last year)
product had launched and was showing traction
Angel investors in that round included Duncan Jennings (founder of VoucherCodes.co.uk), Shakil Khan (early Spotify investor) and Christian
Woolfenden (CEO of Photobox).Tom Leathes, Motorway co-founder and CEO, says there are more than 8 million used cars sold annually in the
This sees motorists having to visit multiple car dealers to negotiate a sale, or list privately on websites like AutoTrader or eBay
The other option is to use one of a number of online car buyers, such as WeBuyAnyCar, that provide a quick disposal option but in return
prices paid are typically low
the market and find the best deal for your car
In return, dealers get connected with motivated sellers instantly
dealerships and even vehicle recycling firms
They can then compare headline offers, read buyer reviews, collection criteria, fees and payment methods before choosing their best deal
typical customer, so far Motorway seems to have run the whole gamut of car owner
adds the Motorway CEO.Leathes cites competitors as established brands such as Auto Trader, We Buy Any Car, eBay and Gumtree, which are
popular websites in the U.K
He says there are also a couple of early-stage startups in the space, but that none of these services offers a transparent price comparison
experience with instant offers to buy your vehicle.The revenue model is simple, too
The startup is paid a commission by the buyer when a car is purchased from a seller that found their offer through Motorway
sales enquiries per month, Motorway says the new funding will enable the startup to further develop its software platform, expand the
people selling their cars is hard
The potential buyers are fragmented with many different online and offline options
Information about the sale process is difficult to find and pricing is often unclear
moderately successful) exits behind them, the Motorway founders are used to doing hard things
