A car comparison site that tries to find you the best price on a new vehicle from a range of dealers has raised £12.5 million ($18 million).
Carwow, a British start-up founded in 2013, lets users put details into their site about the exact car that they want to buy. The request is sent out to all the dealers on the platform, and the user receives up to five offers from the best-rated dealers. A buyer can then contact the dealer directly.
Accel – a venture capital firm which has invested in the likes of Spotify and Dropbox – led the funding round. Previous investors Balderton Capital, Samos Investments and Episode 1 Ventures, all participated in the round.
Previously Carwow raised £4.6 million in December 2014.