Prime Ventures invests in Dealerdirect

April 2015

Rocket Internet and Prime Ventures lead new investment in

Dealerdirect, the online marketplace for second-hand vehicles in Europe, has secured a new funding round of EUR 8m from Rocket Internet and Prime Ventures Netherlands. Dealerdirect, which operates under the brands in the Netherlands and Belgium and in Germany, will use the proceeds for further geographic expansion in Europe and abroad. The company is currently active in the Netherlands, Belgium and Germany.

Niels Oude Luttikhuis, CEO at Dealerdirect: “We are thrilled to have secured this new round of funding, which will allow us to continue our growth trajectory in existing and expand into new markets, scale our operations, and continue to deliver a best-in-class service. 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.”

Since its launch in 2007 Dealerdirect has revolutionized the market for online car sales. Dealerdirect is the leading marketplace where consumers connect directly with automotive dealers. Nearly 10.000 automotive dealers have signed up with Dealerdirect’s online platform and bid in an auction process for a customer’s car that decides wether to sell on the basis of the highest bid. The company offers a unique, quick and direct service - 24 hours a day, seven days a week. The auction process is free of charge. Currently, a vehicle is traded every 6 minutes on Dealerdirect and its subsidiaries.

Sake Bosch, founder of Prime Ventures: “For us Dealerdirect is a great opportunity to accelerate their growth, by teaming up we can contribute to building the giants of tomorrow“