# NewOrderAuto

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

- Industry: Retail
- Headquarters: Seattle, US
- Website: www.tred.com
- Total disclosed funding: $3.4M
- Latest round: Seed (Jan 15, 2013)
- Investors on record: 7

## About

NewOrderAuto, Inc. operates a digital marketplace that facilitates vehicle transactions between private sellers and buyers, enhancing the buying and selling experience with innovative features and streamlined payment processing.Founded in 2011, NewOrderAuto, Inc. is based in Seattle, US. The company specializes in providing a platform for private automobile sales. The founders include Grant Feek, Molly Banks, Peter Kirby, and Will Smith, with Grant Feek serving as CEO. The company raised USD 25 mn in a Series B funding round in November 2021, which represents the total amount raised to date, indicating a focused strategy on growth and expansion with a total of 5 deals.NewOrderAuto's core offering revolves around a digital marketplace that facilitates the buying and selling of vehicles between private sellers and buyers. The platform enables users to chat with verified sellers, schedule test drives, and make offers online, all while ensuring a streamlined transaction process. Key features include payment processing through various methods such as credit/debit cards, ACH transfers, and wire payments, alongside services like financing, vehicle service contracts, and GAP insurance. NewOrderAuto's services primarily target individual consumers in the United States looking to purchase or sell used cars, and the integration of TRED's features into their offerings has strengthened their position in the private seller market.NewOrderAuto operates on a commission-based revenue model, earning fees from transactions between buyers and sellers facilitated through its platform. Each successful sale involves the platform collecting payment from the buyer and disbursing the funds to the seller electronically. This transaction structure ensures that the seller's existing loan can be paid off as part of the sale process, guaranteeing a smooth transfer of ownership. While specific pricing details for services are not disclosed, the model reflects a B2C approach, directly connecting consumers with private sellers. Additionally, the incorporation of financing options and value-added services such as vehicle warranties contributes to their overall revenue generation strategy.In November 2021, NewOrderAuto, Inc. raised USD 25 mn in Series B funding from individual and other unspecified investors. The company plans to utilize these funds to invest in product development, expand its locations and services throughout the country, and further enhance partnerships. Specific details on upcoming new product launches or targeted geographic regions for expansion have not been disclosed.

## Funding rounds

- Seed, Jan 15, 2013, $1.7M — Maveron, Founders' Co-op, Lowercase Capital, Great Oaks Venture Capital, FM Capital
- Angel, Dec 20, 2012, $1.7M — Maveron, Founders' Co-op, Lowercase Capital, Techstars, Great Oaks Venture Capital, FM Capital, K5 Ventures

## Investors

- Maveron (https://capitalatlas.ai/funds/maveron) — Angel, Seed
- Founders' Co-op (https://capitalatlas.ai/funds/founders-co-op) — Angel, Seed
- Lowercase Capital (https://capitalatlas.ai/funds/lowercase-capital) — Angel, Seed
- Techstars (https://capitalatlas.ai/funds/techstars) — Angel
- Great Oaks Venture Capital (https://capitalatlas.ai/funds/great-oaks-venture-capital) — Angel, Seed
- FM Capital (https://capitalatlas.ai/funds/fm-capital) — Angel, Seed
- K5 Ventures (https://capitalatlas.ai/funds/k5-ventures) — Angel