Carwow Raises £12.5M Series B Led by Accel

Carwow, the U.K. based platform has raised a £12.5 million Series B led by Accel. Previous investors Balderton Capital, Samos Investments and Episode 1 Ventures, the company’s original backer, also participated. It follows a £4.6 million Series A investment in December 2014 and brings total raised by Carwow to £18.4 million.

Carwow was launched in 2010 as car review aggregator, later they added the idea of providing a platform to improve the experience of buying a new car.

carwow-raises-12-5m-series-b-led-by-accel

Carwow allows consumers to compare offers online and buy directly from ‘trusted’ dealers that are registered with the platform, specifically avoiding the arduous but otherwise necessary requirement to haggle over price and in a way that potentially introduces a lot more transparency.

This is how they claim a better way to buy a new car. According to the site, you can save an average of £3,600 by comparing local and national dealers by price, location, buyer reviews and availability and above all this is all free of all those hassles and haggles.

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