Carspring Ltd.

Carspring Ltd. is an online platform facilitating the auction and sale of vehicles, enhancing the buying and selling experience for classic car and motorcycle enthusiasts globally. Carspring Ltd. was founded in 2015 and is headquartered in London, UK.

The company specializes in the online auction of classic cars and motorcycles, providing a streamlined marketplace. The firm has raised EUR 3. 00 mn in a Series B funding round in July 2015 from Rocket Internet SE, bringing its total amount raised to EUR 3. 00 mn.

Carspring has completed 2 deals to date. Carspring Ltd. operates a digital platform that specializes in the auction and sale of classic cars and motorcycles, catering to a global audience of collectors and enthusiasts. The platform allows users to list vehicles for auction, buy, and place bids on a range of classic vehicles, including vintage and modern classics.

The user experience includes pre-bidding, real-time auction tracking, and online valuations, aimed at simplifying the transaction process for both sellers and buyers, and primarily serves markets in the UK, Europe, and select global regions. In 2015, Carspring Ltd. reported a revenue of EUR 1,421,452. 40.

The firm operates on a commission-based structure, charging sellers a fee based on the final sale price of their vehicles upon successful transactions. Following the recent Series B funding round in July 2015, Carspring plans to enhance its technology and user experience through the development of new features aimed at improving the auction process. The company is also looking to expand its operations into additional European markets by the end of 2016, utilizing the secured funding to bolster its platform and marketing efforts.