Predict your next investment

Venture Capital
marchmontventures.com

See what CB Insights has to offer

Investments

6

About Marchmont Ventures

Marchmont Ventures is dedicated to investments that support creativity in business, arts, crafts, heritage protection and land management for the long term.

Marchmont Ventures Headquarter Location

London, England,

United Kingdom

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Marchmont Ventures News

The Car Auction Platform of Tomorrow - Starting in the UK: Our Investment in Motorway

Jun 14, 2021

We are incredibly thrilled to announce that BMW i Ventures invests in the £48m Series B round of UK used car marketplace Motorway alongside Index Ventures, Unbound, Latitude and Marchmont Ventures to support the company’s efforts as they accelerate further growth and offer their innovative vehicle selling platform to even more customers and dealers. Motorway has built an unparalleled, digital auction platform for used car sales in the UK that offers retail consumers an instant, high valuation for their car combined with a quick sale turnaround and simultaneously provides dealers with a convenient, low-cost high quality stock acquisition channel. Motorway is unique, because it is the first company to bring the asset-light auction model to consumers and dealers at scale. Although there are a number of different ways to sell a used car (online and offline), the process is still complicated and inconvenient for most consumers. Each of the existing selling options has benefits and drawbacks forcing the customer to make compromises in terms of value potential, ease/speed of sale or overall transparency. Motorway enables consumers to sell their car without having to make any of these compromises –  free of any costs for the seller, with instant payment and all entirely remotely. While the car selling experience with the currently available selling options is inconvenient for the consumer, at the same time, car dealers – the buyer side – struggle to acquire stock efficiently. With all the middlemen involved - i.e. instant buyer, car auction, trade-in, classified ads - the current way of transacting used cars between sellers and dealers involves hassle and intransparency that can be avoided. Moreover, the pandemic has significantly accelerated the move of the automotive industry towards online sales. Before the pandemic, 36% of 2020 UK car buyers were open to buying online . Now, 64% are. Motorway facilitates this transition by offering a sale process that is fast, automated and designed to create minimum hassle and maximum efficiency for both sellers and buyers. The seller simply needs to enter the registration number and mileage to receive an instant (expected) price. After submitting all photos and details about their vehicle through a guided web-app process on their phone, the car then gets listed into a daily auction with 3,000 verified dealers participating on the demand side. After the seller has accepted the final price, the car gets picked up from the seller’s home and the customer receives an instant payment. Image: Motorway’s customer website Motorway’s value proposition consists of getting a better deal for both the seller and dealer by removing the middlemen and moving the whole process online. In addition, from a seller point of view, it also provides: Quicker transaction (possible within 1 day) compared to up to weeks or months with classifieds or trade-in Better experience - there is no need to negotiate the price or drive the car somewhere and unlike classifieds, there is no need to meet and negotiate with buyers For dealers it enables: Rapid access to curated private stock, unlike through classifieds Low transaction fees compared to traditional car auctions, enabled by the fully digital model of Motorway The company is operating in an asset-light model, not owning the vehicles but instead charging a transaction fee from the buyer, which is very capital efficient compared to owning the cars. Such a hybrid between digital stock procurement from consumers and auction sales to dealers is unparalleled in Europe. With Motorway, the founding team – who has built an impressive track record of creating multiple successful online businesses together – has hit a strong product-market fit in the multi-billion market for used car sales. Motorway senior management (from left to right): Alex Buttle (Co-Founder & Marketing Director), Harry Jones (Co-Founder & Chief Product Officer), Tom Leathes (Co-Founder & CEO), Lloyd Page (Chief Marketing Officer) The company has completed over 65,000 successful car sales since it started in 2017. It currently sees a car sale agreed on its website every ten minutes, is completing over £2.5m of transactions a day and more than 4,000 completed car sales a month. With £50m sales in May 2021 alone, the company is projecting to hit over £650m in car sales in 2021, more than triple its performance in 2020. We believe that Motorway is leading the start of a new era in used car retail in which the car-selling process is simpler, faster and hassle-free. This investment reflects our commitment to support purpose-driven entrepreneurs who are delivering more value through technology. We are extremely excited to join Tom Leathes, Harry Jones and Alex Buttle in their mission to build a better car market inspired by truth, transparency and fairness for everyone! PS: Special thanks to our intern Imal Moradi for the help with the diligence.

Marchmont Ventures Investments

6 Investments

Marchmont Ventures has made 6 investments. Their latest investment was in Motorway as part of their Series B on June 6, 2021.

CBI Logo

Marchmont Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/14/2021

Series B

Motorway

$67.76M

No

5

1/15/2020

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

6/25/2019

Series A

Subscribe to see more

$99M

Subscribe to see more

10

3/18/2019

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

7/31/2018

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/14/2021

1/15/2020

6/25/2019

3/18/2019

7/31/2018

Round

Series B

Seed VC

Series A

Seed VC

Series A

Company

Motorway

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$67.76M

$99M

$99M

$99M

$99M

New?

No

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

5

10

10

10

10

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.