Carmoola, a British-Ukrainian car financing startup, has raised £103.5 million through a series A funding round and a new debt facility. The company secured £8.5 million from fintech investment fund QED Investors in its series A funding and a debt facility of up to £95 million from NatWest. Carmoola will use the funds to scale up its business, increase its staff headcount to 20, and improve the customer experience. The company offers a budget for car buyers, generates a history check, and facilitates payments both online and in a showroom via a virtual card.
Carmoola has raised £8.5 million in its series A funding round led by fintech investment fund QED Investors. The funding will be used to scale up the business and increase its staff headcount to 20. Carmoola’s headquarters is in Camden, but much of the development of its back-end technology is still done in Lviv. In addition to the series A funding, the company has also secured a debt facility of up to £95 million from NatWest.
Carmoola’s series A funding was led by fintech investment fund QED Investors. The company raised a total of £8.5 million in funding through this round. Additionally, the company secured a debt facility of up to £95 million from NatWest. The funding will be used to grow the business and increase its staff headcount to 20.
Carmoola was founded by Aidan Rushby, Amy McKechnie, Roman Sumnikov, and Igor Gordiichuk. The company aims to disrupt the car finance industry, which has not caught up with recent innovations. Carmoola offers a budget for car buyers, generates a history check, and facilitates payments both online and in a showroom via a virtual card. The UK car finance market is worth £120 billion, and Carmoola believes there is a clear opportunity for disruption.
Carmoola has raised £103.5 million through a series A funding round and a new debt facility, which it will use to scale up the business and improve the customer experience. The company offers a budget for car buyers, generates a history check, and facilitates payments both online and in a showroom via a virtual card. Founded by Aidan Rushby, Amy McKechnie, Roman Sumnikov, and Igor Gordiichuk, the company aims to disrupt the car finance industry, which has not caught up with recent innovations. Carmoola believes there is a clear opportunity for disruption in the UK car finance market, which is worth £120 billion.
