CarOnSale Raises €70M for EU Expansion
The CarOnSale Management-Team: Fabian Roth, Tom Krüger, Oguz Özgüler und Max Schilling - © CarOnSale
Berlin-based startup CarOnSale has secured €70 million in Series C funding to strengthen its position as Europe's leading digital B2B marketplace for used cars. The funding round was led by global venture capital fund Northzone alongside existing investor HV Capital, with participation from Insight Partners, Stripes, and Creandum.
According to Gründerszene, this latest investment brings CarOnSale's total funding to over €135 million since its founding in 2018. The Berlin company previously raised €51 million in its Series B round in 2021. Former Daimler CEO Dieter Zetsche, who joined as a business angel in 2019, also holds shares in the company.
CarOnSale operates a digital auction platform where professional dealers and OEMs can trade used vehicles. Sellers can list their cars for free and receive valuations, while buyers participate in daily auctions through digital showrooms. The platform charges OEMs €99 per successful transaction and promises reduced vehicle standstill times and higher margins compared to traditional offline trading.
With approximately 300 employees, CarOnSale plans to use the fresh capital for European expansion, product development, and team growth. The company has already established itself as an official Mercedes Benz partner for marketing lease returns and demo vehicles across Europe.
The used car market remains highly competitive, with players like Auto1, Cardino, and Cox Automotive active in Germany. However, the sector has seen challenges, with Volkswagen shutting down its Heycar platform in April 2025 due to insufficient dealer commitment and high costs.
