Communiqués de presse
AUTO1 Group raises 360 million euros with leading banks and investors to expand within Europe
Berlin, 19. May 2017
Today AUTO1 Group, Europe’s leading used-car marketplace, announced that it has raised 360 Million euros to focus on further penetrating European markets. The company was valued at 2.5 billion euros in its latest round of funding from investors including Princeville Global, Target Global and Baillie Gifford & Co. The latest funding is comprised of a mixture of debt and equity financing in cooperation with JP Morgan, Goldman Sachs, Barclays, CITI, BNP Paribas and BHF Bank. The company valuation has more than doubled since 2015.
In 2016, AUTO1 Group reported revenue of 1.5 billion euros, compared with 750 million euros the previous year. Co-founder and Co-CEO Christian Bertermann said, “We continue to target very high growth rates and seek to achieve a 10 percent market share in Europe mid- to long-term.“
In the five years since its founding, the company has grown to be the leading European used car marketplace with 330,000 cars sold by consumers and purchased by independent dealers on its platform in 2016. AUTO1 Group has a growing network of 320 evaluation branches and over 30,000 car dealers across Europe.
About AUTO1 Group
AUTO1 Group is Europe’s leading used-car marketplace with its own certified and diversified inventory. As a brand-independent automotive platform, AUTO1 is aimed primarily at the used car trade. By connecting buyers and sellers through technology the company enables consumers as well as dealers to trade seamlessly. Founded in 2012, the company is empowering its consumers and dealers with liquidity, more business and first class supply. Sourcing from all channels including OEMs and dealerships. AUTO1 Group owns business units like AUTO1.com, Autohero.com or wirkaufendeinauto.de. AUTO1 Group operates in 30 countries and continues to expand rapidly. For more information, please visit www.auto1-group.com.
Philip Reicherstorfer, Director of Corporate Finance
Director PR & Communications