- London-based fintech Carmoola secures £15.5 million in equity funding.
- Investors include QED Investors, VentureFriends, InMotion Ventures, AlleyCorp, and u.ventures.
- Previous funding includes a £95 million debt facility from NatWest and £8.5 million Series A round in February 2023.
- Carmoola, launched in March 2022, offers personalized car finance solutions directly to consumers.
- The platform provides budget, and free history checks, and allows online or showroom payments via Carmoola virtual card.
- Regulated by the UK’s Financial Conduct Authority (FCA).
- Co-founder and CEO Aidan Rushby aims to rebalance the used car finance market in favor of consumers.
- Carmoola claims to have supported purchases of over £46 million worth of cars.
- Plans to expand its offering to more car buyers with the new funding, aiming for profitability.
