# Carmoola Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carmoola-group

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.carmoola.co.uk/
- Total disclosed funding: $46M
- Latest round: Series A (Nov 29, 2022)
- Investors on record: 6

## About

Based in London, UK, and founded in 2021 by its CEO Aidan Rushby, and co-founders Amy McKechnie, Roman Sumnikov, and Igor Gordiichuk, Carmoola Group Limited trading as Carmoola operates as a car financing platform that allows customers to adjust terms and payments. In April 2022, Carmoola Limited raised GBP 27 million in seed funding from new investors InMotion Ventures, VentureFriends, Blenheim Chalcot, Truesight Ventures, and Clocktower Ventures. Carmoola Limited offers a motoring finance application that lets users find out how much they can borrow. The company creates a virtual card that can be used to purchase a vehicle online or at a dealership including at UK-founded online car retailer Cazoo. In addition, the company offers electric car finance, automatic car finance, petrol car finance, and manual car finance. The company will use the seed funding to accelerate the development of its product and launch the initial stages of the business. In September 2024, Carmoola raised GBP 100 million in venture debt funding from new investor NatWest.

## Funding rounds

- Series A, Nov 29, 2022, $10M — QED Investors, VentureFriends, InMotion Ventures
- Seed, Apr 8, 2022, $35M — BCI Capital, VentureFriends, Clocktower Technology Ventures, InMotion Ventures, TrueSight Ventures

## Investors

- BCI Capital (https://capitalatlas.ai/funds/bci-capital) — Seed
- VentureFriends (https://capitalatlas.ai/funds/venturefriends) — Seed, Series A
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed
- InMotion Ventures (https://capitalatlas.ai/funds/inmotion-ventures) — Seed, Series A
- TrueSight Ventures (https://capitalatlas.ai/funds/truesight-ventures) — Seed
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series A