Funding

Cardino funding news – Berlin-based Cardino Secures €4 Million in Seed Funding

Jun 11, 2024 | By Startup Rise EU

Cardino, a pioneer in the used electric vehicle (EV) market, secures €4 million in seed funding spearheaded by Point Nine. Numerous eminent individuals and angel investors, including major backers from websites like Rosberg Ventures, Vinted.com, Bolt, HomeToGo, Dance, and HeyJobs, contributed to the investment round.

Cardino, a pioneer in the used electric vehicle (EV) market, secures €4 million in seed funding spearheaded by Point Nine. Numerous eminent individuals and angel investors, including major backers from websites like Rosberg Ventures, Vinted.com, Bolt, HomeToGo, Dance, and HeyJobs, contributed to the investment round.

Within 72 hours of listing, private sellers have an amazing 80% chance of obtaining a binding offer. They also benefit from a free and easy experience. The business oversees all facet of the transaction, including arranging logistics, pick-up, and payment processing in addition to providing supplemental valuation based on current market data. The seller never has to leave their house because the car is picked up and shipped all around Europe in only seven days.

The market's faith in Cardino's creative business strategy and outstanding growth trajectory is demonstrated by this sizeable investment. Notably, Cardino's annualised Gross Merchandise Value (GMV) shot to an astounding €100 million in Q1 of 2024, with nearly 50% quarter-over-quarter increase. These numbers highlight Cardino's role as a pioneer in the quickly changing field of electric cars.

RECOMMENDED FOR YOU

recomd
Funding
[Funding alert] Hamburg-based Heyflow Secures $16Million in Series A Round Funding
Startup Rise EU
Feb 29, 2024
recomd
Funding
[Funding alert] Amsterdam-based Femcare Startup Yoni Secures €2.3M in Funding
Startup Rise EU
Dec 18, 2023
recomd
Funding
[Funding alert] London-based NumberEight Secures $2.7M in Pre-Series A Round Funding
Startup Rise EU
Jan 15, 2024

Henrik Sachs and Lukasz Pajak, Founders said, “Cardino is dedicated to revolutionizing the used EV marketplace through its digital-first approach, making the process convenient and efficient for sellers and dealers,”.

Cardino gives auto dealerships a cutting-edge toolkit so they can find EVs quickly. The convenience of obtaining supplies from various marketplaces and the superior quality of cars with little mileage and no damage are dealers' greatest assets. For quality control, Cardino verifies sellers and looks over car history, condition, and battery records.

The website facilitates direct bidding and offers thorough car profiles, streamlining the purchasing process, producing competitive rates for purchasers, and bringing together buyers and sellers from other markets.

Nico Rosberg of Rosberg Ventures shared his excitement about the platform’s impact: “The future of cars is electric. For that, we need a sustainable used car market. Henrik, Lukasz and the entire Cardino team are doing pioneering work with their platform. Cardino is both efficient and transparent, setting new standards for the entire industry. That is why I am happy to support this mission as an investor.”

Cardino is still fully committed to innovation and sustainability in the automobile industry even as its services spread farther throughout Europe. Plans for 2024 call for improving the platform's functionality, like adding a patented online battery range check to create new standards in the EV market, and extending seller-side consumer services to France.

About Cardino

Founded in 2022, Cardino aims to revolutionise the secondhand electric vehicle market. It makes it possible to sell used electric cars online by utilising a strong network of reliable dealers around Europe. This effective methodology facilitates the transfer of used EVs to new owners, which not only speeds up the sales process but also supports a circular and sustainable economy.

Recommended Stories for You

story
Recent Articles

[Funding alert] Berlin-based INSRD Secures €500k in Pre-Seed Funding

Startup Rise EU Mar 7, 2024

story
Funding

Tulyp funding news – Paris-based Tulyp Secures €1.5 Million in Seed Funding

Startup Rise EU May 17, 2024

story
Funding

[Funding alert] Utrecht-based CryoCloud Secures €500k in Pre-Seed Funding

Startup Rise EU Mar 2, 2024

story
Funding

[Funding alert] Contract Management Startup Tomorro Secures €11 Mn Funding Led by Resonance

Startuprise Dec 7, 2023

story
Recent Articles

Funding Wrap of the Week | European Startups Funding Roundup | May 19 – May 24

Startup Rise EU May 25, 2024

story
Funding

[Funding alert] London-based Thema Raises €5.8 Million in Funding

Startup Rise EU Jan 15, 2024