Balderton leads £4.6m series-A for Carwow

The fresh capital will allow the business to expand its team, invest in marketing and explore new markets.

Existing backers Episode 1 Ventures and Samos Investments also took part in the round.

Balderton cited Carwow's growth in 2014 as its primary motivation for investing, stating the business had generated interest from other VCs.

Previous funding
In February, Balderton led a £1.3m seed round for the business alongside Episode 1, Samos and angel investors Simon Murdoch, Doug Monro and Zoopla founder Alex Chesterman.

Company
London-based Carwow, which has a headcount of 20, was officially launched in February 2014, following a beta launch in May 2013. The company provides services regarding the purchase of new cars, offering an online car comparison service and contact options for dealers. Since its inception, the business has generated sales of more than £150m.

People
Rob Moffat, a principal at Balderton, has a seat on the board at Carwow. James Hind is CEO of Carwow.

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• Topics
• Expansion
• Consumer
• UK / Ireland
• United Kingdom
• Balderton Capital