CarCloud funding news – Car Finance Platform CarCloud Secures £425k in Seedrs Round Funding

Car ownership is the second-highest monthly expense for UK customers, averaging £478 per month. CarCloud alleviates this financial strain.

It's web and app platform combines insights from the auto industry with vehicle, driver, and behavioural data to save drivers time and money while also improving environmental results.

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The platform helps customers comprehend the financial benefits of minimising their environmental impact while offering digital convenience that saves time and money. It’s team manages the complexity, so consumers can manage their car-related finances effortlessly. Cost tracking, finance management, insurance shopping, and deadline reminders for taxes, insurance, and MOT are among the features.

Geoff Turral, co-founder of CarCloud said, “We were confident that we would reach the £325K target, but were happy to be oversubscribed by 30 per cent. Moreover, some of our investors were notable angels, so we are delighted to be moving to the next step of CarCloud’s evolution”.

The basic tools and services that it now offers are intended to make car ownership and financing easier for customers. The business is also developing a pipeline of features, such as whole-life cost comparisons, compliance, and B2B risk reduction, that are targeted at both B2C and B2B markets.

The 40 million licenced drivers in the UK will soon have access to it, which might help them manage vehicle expenses, save time and effort when handling payments, buy new cars, and lessen their environmental effect by switching to electric vehicles.

About CarCloud

Car ownership presents a minefield of paperwork, deadlines and liabilities. That’s what drove us to create CarCloud - your car on your phone.

Nobody enjoys managing the paperwork around their vehicles, with CarCloud you simply upload your registration plate and paperwork for complete peace of mind and paperless car ownership. Their users receive regular reminders, advice and quotes for tax, insurance, financing and more.