Princeville Global Invests €75 Million in AUTO1 Group
20 Mai 2017 - 02:59AM
Business Wire
Today AUTO1 Group, Europe’s leading used-car marketplace,
announced that it has raised €360 million in debt and equity
financing from leading banks and investors to expand within Europe.
Princeville Global led the latest Series E round with a €75 million
investment.
AUTO1 Group operates a technology-enabled marketplace connecting
buyers and sellers of inspected used vehicles across Europe. In
2016, AUTO1 Group facilitated 330,000 vehicle transactions on its
platform and reported revenue of €1.5 billion. 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.” AUTO1 Group has a growing network of 320
evaluation branches and over 30,000 car dealers across Europe.
“Today we are excited to announce our Series E, a round that
will enable us to cement our leadership position in Europe with
continued expansion,” said Hakan Koç, co-founder and co-CEO of
AUTO1 Group. “We chose to work with Princeville Global for their
industry expertise, global platform and their unique ability to be
trusted counselors as we continue to grow and prepare for the
future. The confidence placed in us by Princeville Global shows
that we are on the right track to establishing sustainable growth
and profitability.”
Princeville Global has a long history of success in backing
leading technology companies around the world. The firm has a
worldwide network of deep and long-standing relationships built
over decades of experience investing in and advising leading
entrepreneurs and technology executives.
“AUTO1 Group operates a disruptive business model in the
highly-fragmented and sizable used-car market, which is valued at
over €200 billion in continental Europe alone,” said Emmanuel
DeSousa, Managing Partner of Princeville Global, who will assume a
seat on AUTO1 Group’s Board. “Under the visionary leadership of its
founders, AUTO1 Group is positioned to continue leading the
European used-car marketplace as it provides an increasingly unique
value proposition for individual sellers and independent
dealers.”
About Princeville Global
Princeville Global is an investment firm focused on backing
rapidly-growing technology-related companies around the world. The
firm looks to support entrepreneurs seeking not only capital, but a
value-added partner who can help them fulfill their aspirations to
create companies of global scale. The firm has a worldwide network
of relationships built over decades of experience investing in and
advising rapidly growing companies in the technology sector.
Princeville Global has offices in San Francisco and Hong Kong.
Visit www.princevilleglobal.com for more information.
About AUTO1 Group
Based in Berlin, AUTO1 Group is Europe’s leading used-car
marketplace. Founded in 2012, the company is empowering its
consumers and dealers with liquidity and first class supply,
sourcing from channels including OEMs and dealerships. AUTO1 Group
operates in more than 20 countries and supports over 30,000 car
dealers across Europe. Visit www.auto1-group.com for more
information.
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version on businesswire.com: http://www.businesswire.com/news/home/20170519005783/en/
Princeville GlobalBelinda Mouinquiries@pvglobal.comorAUTO1 Group
GmbHThomas BeckerHead of Communicationsthomas.becker@auto1.com