Berlin-based CarOnSale, a digital B2B marketplace for professional used car trading, has raised €70 million in Series C funding to accelerate its European expansion and enhance its integrated platform. The round was led by Northzone and HV Capital, with participation from Insight Partners, Stripes, and Creandum.
Founded in 2018 by Tom Krüger, Fabian Roth, Oguz Özgüler, and Maximilian Schilling, CarOnSale has grown into a leading full-stack operating system for used car dealerships and OEMs (original equipment manufacturers) across Europe. The company’s software ecosystem connects dealers and manufacturers across borders, streamlining transactions that have traditionally been slow and opaque.
For decades, Europe’s professional used car trade remained stubbornly offline, burdened by fragmented networks, opaque pricing, and cumbersome cross-border transactions. CarOnSale seeks to change that reality by offering end-to-end digital solutions, including vehicle inspections, pricing intelligence, credit decisioning, payment processing, logistics, and fulfillment.
The platform already supports thousands of dealerships and powers auction systems for major OEMs, including Mercedes-Benz. Notably, CarOnSale completed its first acquisition last year, integrating a leading dealership software provider to expand its product offering even further — a detail not widely reported elsewhere.
With this latest investment, CarOnSale aims to scale its operations to support over one million vehicle transactions annually, capitalizing on Europe’s €450+ billion used car market, which remains largely offline. The company plans to deepen its presence in existing markets while entering new countries, backed by a growing team and strengthened infrastructure.
“This Series C is a major milestone for CarOnSale and a strong signal of trust in our business model and team,” said CEO Tom Krüger. “We would like to thank Northzone, HV Capital, and our existing investors for their support and shared confidence. With this strong backing, we now have the perfect foundation to accelerate our growth across Europe even faster.”
According to Sanjot Malhi, Partner at Northzone, CarOnSale is on its way to becoming a category-defining platform in one of Europe’s deepest markets. He highlighted the company’s potential to bring AI-driven innovation to a traditionally archaic industry, benefiting both small dealerships and global manufacturers.
CarOnSale’s mission aligns with broader trends of digitizing vertical B2B marketplaces, much like Northzone’s other investments in platforms serving traditional industries. Their approach combines operational, domain, and product expertise to create a robust digital infrastructure for Europe’s next-generation auto trade.
