Cardino's €4 Million Investment Fuels Expansion
Cardino ensures that used EVs quickly find a new owner - © Cardino
Cardino, a trailblazer in the used electric vehicle market, recently announced a successful €4 million funding round led by Point Nine. This significant investment, detailed in a recent press release, was supported by prominent angel investors and industry figures from Rosberg Ventures, Vinted.com, Bolt, HomeToGo, Dance, and HeyJobs. The funds will accelerate Cardino's growth and enhance its innovative sales platform.
Cardino has distinguished itself by facilitating the sale of used electric vehicles through a digital platform and a trusted network of dealers across Europe. This efficient model not only simplifies the sales process but also promotes a sustainable, circular economy by enabling the transfer of used electric vehicles to new owners.
Private sellers benefit from a seamless experience, with an 80% chance of receiving a binding offer within 72 hours of listing. Cardino handles all transaction aspects, from a free real-time market data-based valuation to logistics and payment processing, ensuring vehicle collection within seven days of contract signing.
The company's impressive performance includes nearly 50% growth in Q1 2024 compared to the previous quarter, with annual gross merchandise volume surpassing €100 million. These achievements underscore Cardino's position as a leading force in the rapidly evolving electric vehicle landscape.
