Madrid-based Dealcar drives away with €3M to digitise and streamline used car sales

Madrid-based Dealcar, an all-in-one platform designed for used car dealerships, has secured €3M in a seed funding round led by Ghent-based Entourage and 4Founders Capital, with other investors like Itnig Capital, Demium Capital, and Bynd.

Additionally, angel investors like Toubkal Partners, Alexandre Guinefolleau, CEO of Amenitiz, and Carles Marcos, Country Manager of Qonto, also participated.

Fund utlisation

The company will use the funds to accelerate its European expansion into key markets such as France, Italy, and Germany.

Additionally, the funds will be used to increase the penetration of Dealcar Pay, it’s all-in-one payment solution that facilitates faster, safer, and more efficient transactions for both dealerships and buyers.

Carlos Horno and Sergio Guisado, co-founders of Dealcar, state, “We aim to be the operating system on which every used car transaction will take place very shortly. Our goal is to reduce the stock turnover time from 90 days to half, providing liquidity and confidence to the used car market.”

Dealcar: Automotive Vertical SaaS platform

Founded by Carlos Horno and Sergio Guisado, Dealcar is the all-in-one platform that digitises and optimises the buying and selling of used cars for dealerships of all sizes, from large groups to independent dealers.

The platform helps manage inventory across different websites, organises contacts, connects with financial institutions, handles payments, and provides extra services like insurance, warranties, and logistics.

Additionally, the company works with over 150 dealerships and manages around 8.000 cars daily.

The platform combines fintech technology to manage payments, financing, and other services related to the sector through an omnichannel solution, enabling both physical and online transactions.

Furthermore, Dealcar aims to expand its solutions through new agreements with financial institutions to make it easier for dealerships to access financing.

Based out of Barcelona, 4Founders Capital is a venture capital fund that invests in early-stage Internet and technology-enabled businesses in Spain and Europe.

Jesus Monleon, founding partner of 4Founders Capital, explains, “Dealcar is the only platform in Europe that integrates all aspects of the vehicle buying and selling process and is demonstrating a strong ability to automate the sector and respond to the urgent need for modernisation.”