FinTechFunding

VavaCars: Raises $37M in Series C Funding

VavaCars Raises $37M in Series C Funding

  • VavaCars, a Istanbul, Turkey-based online trading platform for buying and selling used cars, closed its $37m Series C funding round
  • A combination of existing and new investors participated, alongside founding investor, Vitol
  • The funding will be used to consolidate the company’s market leading position in Turkey
  • The company is a reseller of used cars operating in close partnership with fuel retailer Petrol Ofisi
  • In addition, there is a 14-day money-back guarantee and a 3-month warranty to ensure consumers are satisfied with their purchase
  • In the first half of 2022, the company sold more than 20,000 cars and generated in excess of $500m in revenue
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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