NGP leads $20m series-B for Caroobi

Other backers in the round included Target Global, along with existing investors BMW iVentures, DN Capital and Cherry Ventures.

With the fresh capital, Caroobi intends to expand its recently launched marketplace for replacement car parts and begin its international roll-out, notably to the UK and France.

Previous funding
DN Capital led a seed funding round for Caroobi, along with Cherry Ventures and other investors, in April 2016.

BMW iVentures, BMW's venture capital arm, led a series-A financing round for the company, along with existing investors DN Capital and Cherry Ventures, in July 2017. The funding supported the company to further improve customer experience and tech integration with its partner garages; it also planned to expand its employee base from 60 to 100.

Company
Based in Berlin and founded in 2015 by Nico Weiler and Mark Michl, Caroobi operates an online platform that allows users to book car repair services. Through its platform, customers can book car repairs on the go through desktop or mobile devices at a fixed price with qualified and reviewed mechanics. According to the company, it assists with around 2,000 car repairs per month and employs a staff of 130.

People
NGP Capital – Walter Masalin (partner).
Caroobi – Mark Michl, Nico Weiler (founders, managing directors).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Venture
• Target Partners
• DN Capital