From car-sharing services and alternative financing options to dealership enablement software, startups in the auto commerce space are changing the way cars are sold, leased, and financed.
Despite the rise of new mobility services and autonomous vehicles, auto commerce is still making a strong showing.
This year, auto commerce deal and funding activity is expected to surpass 2016 levels, with new sales platforms abroad driving much of the deal activity.
Chinese companies feature prominently in the space, with a number of large funding rounds going to startups working in China’s auto commerce space.
Using CB Insights data, we surfaced 70 auto commerce companies that are simplifying the processes around buying, selling, and trading cars and fleets.
Inaddition to the purchase and financing of cars and fleets online, we define auto commerce to include car-sharing, on-demand, and short-term rental business models that provide an alternative to consumers purchasing cars. We exclude ride-hailing startups, transportation network companies, and auto insurance companies.
This market map includes private, active companies only and is not meant to be exhaustive of companies in the space. Categories are not mutually exclusive.
Please click to enlarge.
Auctions: Companies facilitating the sale of new and used cars using any kind of auction system. Transactions can be between individual car owners and/or dealerships. Mumbai-based CarTrade and China-based Chezhibao both allow users to car shop online and contact the seller to place a bid.
Financing & subscriptions: These startups provide financing options for car buyers, including peer-to-peer lending and online financing options. San Francisco-based AutoFi, which raised a round led by Ford earlier this year, allows users to apply for and receive auto loans online, while companies like Fair Financial offer new subscription-based ownership models.
Shopping tools: This category includes comparison shopping sites, classified ad platforms, and other online tools for car buyers to compare vehicles and find dealerships. Companies here include Carwow and Auto List, which allow customers to browse reviews and compare prices for their desired vehicles.
Car-sharing: These startups allow users to rent cars directly from other car owners, rather than through rental companies. Companies like AT Zuche and Turo allow users to rent other users’ cars online or via an app.
Virtual showrooms: These companies provide digital representations of showrooms for car shoppers, using 360° cameras and/or VR technology. Car360, which first debuted on Shark Tank, is a smartphone app that captures and stitches a representative 360° view of a showroom.
Digital marketplaces: These platforms connect buyers directly with car owners selling their vehicles. Startups in this category include Vroom, which has raised over $360M from smart money investors including General Catalyst, and Shift Technologies, which has raised over $110M from corporate investors like BMW iVentures.
Digital dealerships: These startups aim to displace current brick-and-mortar dealerships for new and used cars. Unlike digital marketplaces, these companies must maintain and manage their own inventory (much like traditional dealerships).
Companies in this category include CarLotz and Maihaoche, both of which maintain an inventory of vehicles and allow digital purchases. While CarLotz does run brick-and-mortar dealerships, it also allows buyers to shop, reserve, and buy vehicles online. Maihaoche maintains its own inventory of vehicles and allows purchases through a mobile app.
Dealership enablement: Companies here provide software that allows dealerships to operate more efficiently. These software solutions could be for IT, marketing, purchasing, resource planning, and/or inventory management. The most well-capitalized dealership startups here include Auto1 Group and CDK Global, both of which claim to have over $1B in annual revenue.
Rental services: These companies allow consumers to rent cars online or provide software to rental car companies. Examples of these startups include WKZUCHE and Shouqi Car Rental, which let users to rent cars online or using a mobile app.
As of 11/16/17.
|ACV Auctions||Auctions||Bessemer Venture Partners, SoftBank Capital, Tribeca Venture Partners|
|CarPrice||Auctions||Almaz Capital Partners, Fastlane Ventures, Mitsui & Co.|
|Cars45||Auctions||Frontier Car Group|
|CarTrade||Auctions||Canaan Partners, Temasek Holdings, Warburg Pincus|
|Cheyipai||Auctions||BAIC Motor, Matrix Partners China, Sequoia Capital China|
|Chezhibao||Auctions||Addor Capital, Gobi Partners, JD Capital Management|
|InstaCarro||Auctions||FJ Labs, Lumia Capital, Rise Capital|
|Niuniuqiche||Auctions||Kaitai Capital, Zhongjun Capital|
|Tiantian Paiche||Auctions||SIG Asia Investments, Softbank China Venture Capital, Tencent Holdings|
|Youxinpai||Auctions||DCM Ventures, Legend Capital, Tencent Holdings|
|AT Zuche||Car-sharing||China Pacific Insurance, Matrix Partners China, Shanghai Guohe Capital|
|Drivy||Car-sharing||Alven Capital, BPI France, Index Ventures|
|Getaround||Car-sharing||Menlo Ventures, SOSV, Triangle Peak Partners|
|MaaS Global||Car-sharing||DENSO, MS&AD, Toyota Motor Corporation|
|Turo||Car-sharing||August Capital, Google Ventures, Shasta Ventures|
|Auto List||Shopping Tools||MHS Capital, Square 1 Bank|
|Appraisal Lane||Dealership Enablement||Undisclosed Investors|
|Auto1 Group||Dealership Enablement||Baillie Gifford & Co., DN Capital, DST Global|
|CDK Global||Dealership Enablement||Marble Arch Investments|
|Drive Motors||Dealership Enablement||Bullpen Capital, Khosla Ventures, Y Combinator|
|Gongxifache||Dealership Enablement||Ceyuan Ventures, Xincheng Investment|
|uton||Dealership Enablement||Diyi Chedai, Gaw Capital Partners, Zhonghai Tongchuang Group|
|Work Truck Solutions||Dealership Enablement||Autotech Ventures, BELLE Michigan, Golden Seeds|
|Xingyuan Auto||Dealership Enablement||Zhongjun Capital|
|CarLotz||Digital Dealerships||Transportation Resource Partners|
|CarSaver||Digital Dealerships||Advent International, Calixto Global Investors, The Crowley Group|
|Droom Technology||Digital Dealerships||Beenos Partners, Lightbox Ventures|
|Kavak||Digital Dealerships||Mountain Nazca|
|Maihaoche||Digital Dealerships||Northern Light Venture Capital, Sinovation Ventures|
|Rockar||Digital Dealerships||Maven Capital Partners, NVM Private Equity, Seneca Partners|
|Uxin Pai||Digital Dealerships||Kohlberg Kravis Roberts & Co., Tiger Global Management, Warburg Pincus|
|Carro||Digital Marketplaces||Alpha JWC Ventures, GMO VenturePartners, SingTel Innov8|
|Che300.com||Digital Marketplaces||SAIC Motor, Sequoia Capital China, Source Code Capital|
|Fecar||Digital Marketplaces||Baiyuan Investment Fund|
|Frontier Car Group||Digital Marketplaces||Balderton Capital, EchoVC Partners, TPG Growth|
|GoodBuyAuto||Digital Marketplaces||Giuseppe Guillot|
|Guazi||Digital Marketplaces||BlueRun Ventures, Matrix Partners China, Sequoia Capital China|
|Instamotor||Digital Marketplaces||CrunchFund, Maveron|
|RenRenChe||Digital Marketplaces||Ceyuan Ventures, Redpoint Ventures, Shunwei Capital Partners|
|Shift Technologies||Digital Marketplaces||DCM Ventures, Draper Fisher Jurvetson, Highland Capital Partners|
|Souche Holdings||Digital Marketplaces||Ferry Venture Capital, Morningside Ventures, Warburg Pincus|
|Truebil||Digital Marketplaces||Kae Capital, Shunwei Capital Partners|
|Vroom||Digital Marketplaces||General Catalyst, L Catterton, T. Rowe Price|
|AutoFi||Financing & Subscriptions||Crosslink Capital, Ford Motor Company, Lerer Hippeau Ventures|
|AutoGravity||Financing & Subscriptions||Daimler, Volkswagen Financial Services|
|Diyi Chedai||Financing & Subscriptions||Matrix Partners China, Youjin Capital|
|DriverUp||Financing & Subscriptions||Emerald Development Managers, RRE Ventures, SF Capital Group|
|Fair.com||Financing & Subscriptions||BMW i Ventures, CRV, Javelin Venture Partners|
|iqianbang.com||Financing & Subscriptions||Shanda Capital, Zhang Peifeng|
|Jinzao Financial Information Service||Financing & Subscriptions||51Xinyongka, In Capital, Rushan VC|
|Pelican Auto Finance||Financing & Subscriptions||Flexpoint Ford, Wells Fargo & Company|
|Trend Financial||Financing & Subscriptions||Maxium Financial Services|
|Autos Compartidos de Mexico||Rental Services||ALL Venture Partners, Mexico Ventures|
|DSTcar||Rental Services||Qiming Venture Partners|
|Happycar||Rental Services||Capnamic Ventures, HR Ventures|
|Huizuche||Rental Services||H&Q Asia Pacific, Northern Light Venture Capital, VentureShares|
|Jingyu Chuxing||Rental Services||GSR United Capital, Tsing Ventures|
|Shouqi Car Rental||Rental Services||Harvest Global Investments, Taiping Asset Management|
|SnappCar||Rental Services||AutoBinck Group, Europcar Groupe, Founders|
|TravelCar||Rental Services||MAIF Avenir, Network Finances, PSA Group|
|Vehiculum||Rental Services||Coparion, Oskar Hartmann, SchneiderGolling|
|Wheeliz||Rental Services||Keolis, MAIF Avenir|
|WKZUCHE||Rental Services||Jinke Junchuang, PurpleSky Capital, Yunnan Metropolitan Construction Investment|
|ZoomCar India||Rental Services||Ford Smart Mobility, Mohandas Pai, Sequoia Capital India|
|Autodeal||Shopping Tools||Frontier Digital Ventures|
|Carnovo||Shopping Tools||Antai Venture Builder, Empresa Nacional de Innovacion, Institut Catala de Finances|
|carwow||Shopping Tools||Balderton Capital, Episode 1 Ventures, Samos Investments|
|Leasify||Shopping Tools||NFT Ventures, SEB Venture Capital|
|Car360||Virtual Showrooms||BIP Capital, Lori Greiner, Mark Cuban|
|Carbaazi||Virtual Showrooms||Mantra Ventures|