VavaCars, a Türkiye-based online trading platform for buying and selling used cars, has closed its Series C funding round at a premium to its Series B funding in November 2021 raising $37m. A combination of existing and new investors participated, alongside founding investor, Vitol. The funding will be used to consolidate VavaCars' position as Türkiye's leading reseller of used cars.
Since launch in April 2019 in Turkiye, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, VavaCars is Turkiye's leading reseller of used cars. In the first half of 2022, VavaCars sold more than 20,000 cars and generated in excess of $500m in revenue.
VavaCars is the pioneer of fully online second-hand car sales in Türkiye. It sells both to dealers via its proprietary auction platform and direct to consumers. Consumers benefit from fully inspected and reconditioned cars which are delivered to the consumer's home for free. In addition, there is a 14-day money-back guarantee and a 3-month warranty to ensure consumers are satisfied with their purchase.