INSUBCONTINENT EXCLUSIVE:
States and Europe, disrupting a marketplace that has largely been untouched for years
Now a startup focusing on the used car-sales opportunity specifically in developing economies is ramping up its activities.Frontier Car
Group, a Berlin startup that has built a used car marketplace targeted specifically at countries outside of Western Europe and North
into Africa, Latin America and Asia, where it has sold 50,000 vehicles since launching at the end of 2016 and is on track to do $200 million
is not disclosing its valuation with this round but a source close to the company said the demand to participate in this round was high and
million.Developing markets continue to be a huge focus for tech companies when their home countries become to competitive or growth there
24 year-old American CEO (who comes with an impressive record: he went to Harvard aged 15, and has a degree from there in Economics; and he
It first gives would-be sellers online quotes for how much their car might sell for
It then inspects and buys in the vehicle at that price
Would-be buyers then use an app or web to browse stock and arrange for financing.Tyle says that one of the bigger challenges in developed
markets for this model is simply competing against others doing exactly the same thing as each other, leading to a lot of price competition
In contrast, not only is the market less crowded in the countries where Frontier operates, but similar to Uber, Frontier appears to be
playing on the idea that alternatives are less good than what Frontier represents
lucrative sourcing deals that have helped it get a leg up in some countries
staggering what the team have achieved in such a short time, getting to significant scale and building a platform that is capable of being
