Carspring was an online platform for buying used cars in the United Kingdom. Launched in March 2015,[1] the company allows users to buy or finance used cars online.[2]

Carspring
Privately held company
IndustryE-commerce/ used car
FounderDr Peter Baumgart, Maximilian Vollenbroich
Headquarters
Area served
United Kingdom
Websitecarspring.co.uk

The U.K site is currently not listing cars after a loss of investment.[citation needed]

HistoryEdit

The company was founded in March 2015 by two former consultants, Dr Peter Baumgart and Maximilian Vollenbroich.[3]

It is backed by Berlin-based startup ‘incubator’ Rocket Internet.[4] In July 2015, the company raised $3.29m in its first round of funding from a number of investors.[5]

How it WorksEdit

Users choose which car they would like to buy from an online catalogue, pay online, and have their car delivered to their home. Unlike other online UK car dealers, Carspring holds its own inventory as stock.[6] Carspring adopts a similar model to US companies such as Beepi, Vroom, and Carvana.[7]

ReceptionEdit

Startups.co.uk named the company the 17th most promising new online startup in the UK.[8]

ReferencesEdit

  1. ^ "CARSPRING LIMITED - Officers (free information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2016-12-15.
  2. ^ Carspring. "| Carspring". Carspring UK. Retrieved 2016-12-15.
  3. ^ O'Hear, Steve. "Rocket Internet's Carspring Is A Marketplace For Pre-Owned Cars". TechCrunch. Retrieved 2016-12-15.
  4. ^ "Companies | Rocket Internet". www.rocket-internet.com. Retrieved 2016-12-15.
  5. ^ "Carspring | crunchbase". www.crunchbase.com. Retrieved 2016-12-15.
  6. ^ "Subscribe to read". www.ft.com. Retrieved 2016-12-15.
  7. ^ Ingham, Edmund. "Can Tech Startup Carspring Disrupt The £45B Used-Car Market In The UK?". Forbes. Retrieved 2016-12-15.
  8. ^ "17. Carspring - Startups 100 by Startups.co.uk: Start up a successful business". Startups 100 by Startups.co.uk: Start up a successful business. 2016-05-16. Retrieved 2016-12-15.