Dealerdirect raises €8m from Prime Ventures et al.

Dealerdirect intends to use the fresh capital to finance its international expansion from its current bases in the Netherlands, Belgium and Germany.

The deal marks the third transaction in the space of a week for Prime Ventures. On Monday, the VC deployed €5m into Dutch health software developer Forcare. This first round of institutional funding for the Amsterdam-based developer was done via the Prime Ventures IV Fund.

The vehicle was launched in January 2011 with a €250m target it ultimately failed to reach, closing on €170m earlier this month.

On Wednesday, the firm announced it had sold its stake in Finnish software security developer Codenomicon to listed US company Synopsy.

As part of the trade sale, Norwegian direct secondaries house Verdane Capital Partners, Codenomicon's majority shareholder, also sold its stake in the company.

Company
Founded in 2007, Dealerdirect is an internet-based second-hand vehicle marketplace. Headquartered in Enschede, the Netherlands, it conducts business in in Benelux on the website www.ikwilvanmijnautoaf.nl and in Germany on the www.ichwillmeinautoloswerden.de platform.

Around 10,000 customers have registered for its free-to-use auctioning platform with a vehicle changing hands every 6 minutes on the website, according to the company.

People
Prime Ventures was represented by founder and managing partner Sake Bosch. Niels Oude Luttikhuis is CEO of Dealerdirect.

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• Topics
• Benelux
• Expansion
• Technology
• Netherlands
• Prime Technology Ventures