Dealerdirect, a Netherlands-based online marketplace for second-hand vehicles, has attracted €8m ($8.7m) in funding from internet holding company Rocket Internet and venture capital firm Prime Ventures Netherlands.
Founded in 2007, Dealerdirect operates a marketplace where dealerships can list their vehicles, allowing customers to bid for them online. The auction process itself is free, though an administration fee based on the value of the sale is charged at the end.
Dealerdirect operates platforms in the Netherlands, Belgium and Germany, and counts some 10,000 dealerships on its marketplaces. The funding will be used to enter new markets in both Europe and other regions.
Niels Oude Luttikhuis, chief executive of Dealerdirect, said: “After interest from multiple investors, the choice to select Rocket Internet and Prime Ventures was driven by their experience in building and supporting truly global businesses.
“This matches our ambitions to become the leading online vehicle marketplace in Europe.”