# Carnovo Digital, SL

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/carnovo-digital-sl

- Industry: Internet
- Headquarters: Barcelona, Spain
- Website: www.carnovo.com
- Total disclosed funding: $2.2M
- Latest round: Seed (May 11, 2017)
- Investors on record: 3

## About

Carnovo Digital, SL is a digital platform that streamlines the vehicle purchasing process, enabling consumers to buy new cars from dealerships at competitive prices. The platform emphasizes transparency and ease of access for users.Founded in 2016 and headquartered in Barcelona, Spain, Carnovo Digital, SL specializes in facilitating vehicle purchases through its online platform. The company has executed three deals, with its most recent funding round occurring in September 2020, where it raised EUR 6.5 million led by ANGELGATE / Club Deal AG, Banco Sabadell, Ithaca Capital Management, Mountain Partners, R301 Capital, SociosInversores, and ATRESMEDIA. Gerard Olive, the founder of the company, has a background in entrepreneurship, having previously founded other ventures. Abdou Kadiri serves as the CEO.Carnovo operates as a digital platform facilitating the purchase of vehicles at competitive prices, primarily targeting individual consumers seeking to buy new cars directly from dealerships. The company provides a comprehensive service that includes a wide selection of car brands such as Volkswagen, Mazda, Hyundai, and others, along with user-centric features such as price comparisons, dealership ratings, and proximity-based offers. By streamlining the car buying process, Carnovo addresses common consumer pain points, such as price transparency and accessibility to dealership information. Their offerings are designed for customers looking to leverage technology to simplify the car purchasing experience, thus serving a diverse clientele across various geographical markets, including Spain and potentially other regions within Europe.In the most recent fiscal year of 2021, Carnovo generated revenue of EUR 1,854,455.50 and reported an EBITDA of EUR 271,290.40. The company operates on a transaction-based revenue model where consumers purchase vehicles through its platform, earning commission from dealerships for each successful transaction.Following a successful funding round in September 2020, where Carnovo Digital, SL raised EUR 6.5 million, the company is focused on expanding its market reach and enhancing its platform. Plans for future growth include the development of new products aimed at improving user experience and potentially expanding into additional European markets. The recent funding will be utilized to support these initiatives and to solidify partnerships with automotive retailers, thus enhancing the overall service offering to consumers.

## Funding rounds

- Seed, May 11, 2017, $2.2M — Empresa Nacional de Innovacion, Antai Ventures, M4E

## Investors

- Empresa Nacional de Innovacion — Seed
- Antai Ventures (https://capitalatlas.ai/funds/antai-ventures) — Seed
- M4E — Seed