- 2trde closes €7 million seed funding round led by Adevinta Ventures and Aster Capital, to accelerate expansion strategy
- New investment will help fund the company’s international growth, and support product development and talent acquisition
- 2trde is a B2B car trading platform, serving a four-digit number of customers and almost 55,000 dealers and trading partners throughout Europe via its connected auction and trading partners
Munich, 9 March 2022: 2trde, the B2B platform for used car trading, has today announced the close of its €7 million funding round led by new investors Adevinta Ventures, and Aster Capital. Previous investor Maniv Mobility, a global financier of early-stage automotive and mobility startups, also participated in this funding round, increasing its previous investment in the company.
Founded in 2017, 2trde provides software solutions for mobility providers such as car dealerships, leasing companies, and manufacturers, helping to increase efficiency in the secondary market for used cars and driving greater profitability. The company uses several innovations to provide solutions such as machine learning, which helps reduce the average time needed to list used cars from 30 minutes to 5 minutes, and aggregated bidding technology, a unique way that enables used car sellers to maximize their reach and sales through simultaneous access to multiple B2B marketing channels.
During the Covid 19 pandemic, the global shortage of semiconductors stalled production of many carmakers, causing a record drop in registrations across the European car industry. The market for new and leased cars has further reduced, driven by several factors such as employees continuing to work from home, rising demand for electric vehicles and the growth of the subscription vehicle market. With a wave of additional second-hand vehicle sales expected over the 12 months as a result, better digitization and new innovative solutions are needed to enable car dealerships to efficiently manage the increase in sales volume.
2trde’s inventive and highly scalable software provides a solution that will help streamline the used car market, using technology to help facilitate sales. 2trde’s solutions will also help to simplify the trade-in process at used car dealerships, leading to a more convenient customer experience. By doing this, the company can supercharge the entire car B2B value chain, bringing greater transparency, efficiency, and profitability to the market.
Johannes Stoffel, CEO and founder of 2trde said: "We are delighted to welcome Adevinta Ventures as a new investor and strategic partner as we embark on this next phase of our growth. The experience and sector knowledge of the Adevinta Ventures team will enable us to build on our strong foundations and accelerate our online and international growth plans."
Jordi Iserte, Investment Director at Adevinta Ventures commented: “The mobility sector has evolved rapidly in recent years and we are confident about the opportunity that this has presented in the B2B space. 2trde’s solutions will play a critical role in supporting dealers to digitize the B2B used car sales market. We are excited about partnering with 2trde, and look forward to working with Johannes and his experienced management team to help them realize their growth ambitions.”
Notes to editors
Corporate Communications, mobile.de GmbH
+33 (0) 6 84 30 52 76
SLL Automotive Group GmbH
Johannes Stoffel, Co-Founder & CEO
About Adevinta Ventures
Adevinta Ventures is the early stage investment arm of Adevinta, a global online classifieds specialist, operating leading digital marketplaces in 15 countries. Adevinta Ventures invests in fast-growing European startups that can shape the future of marketplaces. Leveraging the top positions of Adevinta's brands (e.g. leboncoin, Mobile.de, Fotocasa, Coches.net, Subito, Marktplaats) Adevinta Ventures adds strong value and is a long-term partner to portfolio companies. Current portfolio and key investment areas include proptech (Kodit, Flatfair), future of work (Medwing), mobility (2trde, PaulCamper, Bipi-exited) and fintech (Lovys). Find out more at adevinta.com/ventures
2trde has committed itself to revolutionizing the auction market for used cars. Mobility providers, such as car dealers or leasing companies, receive a full-service platform to market used vehicles efficiently and profitably in B2B. The highlight: Instead of auctioning used vehicles individually, as is usually the case, 2trde allows vehicles to be offered on up to 6 auction platforms simultaneously. This ensures maximum competition and thus maximum residual values in re-marketing. 2trde covers the complete process, from the registration to the payment of the vehicles, and offers a high level of process stability through technology and customer service.
The automotive sales tech startup 2trde was founded in 2017 by CEO Johannes Stoffel and CTO Marcus Lankenau. The company's investor base includes renowned investors who focus on investments in early-stage startups in the automotive and mobility sectors worldwide, as well as early-stage investors Adevinta Ventures and Axel Springer Plug and Play.