Balderton leads $22m funding round for Frontier Car
UK-based venture capital firm Balderton Capital has led a $22m venture funding round for Frontier Car Group (FCG), a Berlin-based operator of automobile marketplaces.
EchoVC+, TPG/Satya, NEA and Partech Ventures also took part in the funding round.
Daniel Waterhouse of Balderton Capital and Eghosa Omoigui of EchoVC+ will take a seat on FCG's board of directors.
Company
Founded in April 2016 by Sujay Tyle and Peter Lindholm, FCG develops and operates marketplaces in the used car sector, focusing mainly on emerging markets such as Chile, Mexico, Nigeria, Pakistan and Turkey. Headquartered in Berlin, the company also has an office in Gothenburg, Sweden, and employs approximately 200 people.
People
Frontier Car Group – Sujay Tyle (CEO); Peter Lindholm (COO).
Balderton Capital – Daniel Waterhouse (partner).
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