Online car marketplace MeinAuto.de nets funding from Hg

Online B2C car marketplace MeinAuto.de has netted an undisclosed investment from HgCapital.

The Germany-based company is an online platform for new car sales, and helps connect 9,000 dealers with consumers. Through the platform, users can purchase a vehicle through cash, financing or leasing. MeinAuto.de gives buyers the option to finance the car through the website, getting access to loan rates from Bank11, BDK, and Consors Finanz.

Founded in 2007, MeinAuto.de completes the contracts with authorised dealers to ensure buyers receive the same rights they would from buying the car in person.

Florian Wolff, Director at Hg, commented: “The automotive distribution sector is experiencing a fundamental change. We believe this creates a strong opportunity for MeinAuto given its clear and differentiated value proposition which has allowed the business to build a strong position in the sector. Hg firmly believes in the potential of MeinAuto to leverage its value proposition to further develop and grow the platform in the future.”

HGCapital has had a range of recent activity in the FinTech space, with late last year, the firm’s ULLINK buying Itiviti. Itviti is a Sweden-based trading software developer for banks and trading firms. The firm also recently made an investment into fund data and documents platform fundinfo.

Germany has seen a recent surge in FinTech investments, with consumer loan portal smava bagging a $65m investment round, earlier this weeek.

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