Pelham Capital and Others Invest US$3m in Karvi
20 March 2020
Argentine car marketplace Karvi raised US$3m from Pelham Capital and other investors.
(Contxto) Argentina’s online platform for cars, Karvi, raised an investment for US$3 million and let the world know last Wednesday (18). It’s also kicked off operations in Brazil this month, and now users can browse its site to find the best car deals… all from the comfort of their home.
Sources report that “the round was divided between seed capital investments and English fund Pelham Capital LTD.”
Anyway, for now, the startup will only be operating in São Paulo. And that’s thanks to its partnership with Auto Avaliar, an online car sales platform that has 180 dealerships from the city registered on it and to which Karvi now has access.
But during the second half of 2020, the Argentine startup expects to expand within the country.
Karvi knows about car sales woes
Car salespeople are smooth talkers who shall consistently assure potential buyers “this is the best deal you’re ever gonna to get.” But a tiny part of us will always doubt whether it’s true.
Consequently, to add a layer of clarity and certainty to the process of a car with no mileage, Karvi hosts a platform where buyers can search for a specific model, version, and color they’d like their practically new vehicle to be. They then enter their ZIP code.
After which the platform displays the nearby car dealerships so you can compare and contrast deals. Users are also notified as to the vehicle’s availability.
If the person is interested in taking the car out for a spin, they can schedule a meeting with the dealer. What’s more, the final price agreed online through Karvi’s site is respected by the dealership.
No sleezy sales moves when tech comes into the picture.
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