# CarOnSale

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/caronsale

- Industry: Internet
- Headquarters: Berlin, Germany
- Website: www.caronsale.com/
- Total disclosed funding: $155M
- Latest round: Series C (Apr 7, 2025)
- Investors on record: 7

## About

Castle Tech GmbH, through its platform CarOnSale, revolutionizes the used car market in Europe by providing a B2B marketplace that connects professional car dealers with licensed vehicle consignors, optimizing the buying and selling process.Founded in 2018 in Berlin, Germany, Castle Tech GmbH is a pioneering company in the used car marketplace sector. The company was formed by founders Fabian Roth, Oguz Özgüler, and Tom Krüger, with Tom Krüger currently serving as the CEO. Castle Tech GmbH has completed a total of 4 deals, with the most recent deal occurring on October 22, 2021. The firm raised USD 60.00 mn in Series B funding from lead investor Stripes, along with participation from Creandum, HV Capital, and Insight Capital, totaling the amount raised to USD 60.00 mn, with a current company valuation of USD 312.28 mn.CarOnSale operates a comprehensive B2B marketplace specifically designed for the used car trade across Europe. The platform facilitates the buying and selling of vehicles for licensed dealers (consignors) and professional car dealers (buyers), streamlining the entire process from vehicle collection to auction and transportation. Key functionalities include the COSCheck, which provides detailed and transparent vehicle information, thus ensuring confidence in online purchases. The marketplace exclusively features vehicles from licensed dealers and original equipment manufacturers (OEMs), with a particular focus on high-quality German premium vehicles as well as budget options. CarOnSale serves a diverse client base, including over 40,000 registered and verified bidders throughout Europe, and has established itself as the official remarketing partner for Mercedes-Benz lease returns and demo vehicles across multiple countries in the region, enhancing its footprint in markets such as Germany, France, and Italy.CarOnSale's revenue model is structured around facilitating transactions between vehicle consignors and buyers through its digital platform. The company generates revenue by charging fees associated with auctions and vehicle remarketing services, leveraging its extensive buyer network to secure optimal bids for clients. The transaction structure is primarily based on a commission model, where consignors benefit from a guaranteed price for their vehicles, supported by the AlphaController system that ensures efficient processing and accurate pricing based on real sales data. This end-to-end solution streamlines the vehicle marketing process and enhances profitability for both sellers and buyers, contributing to CarOnSale's position in the European used car market. The platform's commitment to transparency and efficiency reinforces client trust and encourages repeat business within this competitive landscape.Following the recent Series B funding of USD 60.00 mn raised on October 22, 2021, Castle Tech GmbH plans to enhance its marketplace platform by introducing new features aimed at improving user experience and transaction efficiency. The company is focused on expanding into additional European markets, specifically targeting the United Kingdom and Spain by the end of 2023. The funding will be allocated towards technology advancements and market expansion initiatives, supporting the company's strategic objectives for growth.

## Funding rounds

- Series C, Apr 7, 2025, $77M — Northzone, Insight Partners, Creandum, HV Capital, Stripes
- Series B, Oct 22, 2021, $60M — Creandum, HV Capital, Stripes, Insight Capital
- Series A, Apr 6, 2021 — FJ Labs
- Series A, Nov 3, 2020, $17M — Insight Partners, Creandum
- Seed, Jun 4, 2019 — Creandum

## Investors

- Creandum (https://capitalatlas.ai/funds/creandum) — Seed, Series A, Series B, Series C
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series A, Series C
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A
- HV Capital (https://capitalatlas.ai/funds/hv-capital) — Series B, Series C
- Stripes (https://capitalatlas.ai/funds/stripes) — Series B, Series C
- Insight Capital — Series B
- Northzone (https://capitalatlas.ai/funds/northzone) — Series C