Carmoola has raised $124M in debt and equity to modernize the used car financing process.
The company is backed by Jaguar Land Rover, among other investors.
- Carmoola provides buyers with a budget, allows them to have a free history check on the car, and enables them to make the payment instantly online and at the showroom in one minute.
- QED Investors led the equity portion of the Series A funding round, while Natwest provided around $100M in debt financing.
- The company aims to use the funding to scale the business, support customer adoption, and grow its team to 20 employees.
- Carmoola is based in London, but a considerable percentage of its development team is in Lviv, Ukraine.
