for Garantibil from
Bonnier and Industrifonden
Garantibil: The first online marketplace for used cars in Sweden
“Each year there are two million people in Sweden who are selling or buying a used car, and half of them feel cheated. We have created a new, fool proof way to sell and buy the car, which will revolutionise the used vehicle market.”
Patrick Juthberg, CEO of Garantibil
Launch of the service
Annual rotation in the Swedish car market
Sweden’s used car market in Europe
Simplifying how people buy and sell used cars
Garantibil is an online auction market place which offers a new and secure way to buy and sell pre-owned cars.
The company wants to offer customers a secure and independent car dealership where it is easier to sell and safer to buy used car through a fully-automated, Internet-based platform.
All cars sold through Garantibil are inspected and tested on 190 different points by independent vehicle inspection centres across Sweden, and all deals include a 2-year car warranty and 2-month comprehensive insurance.
With no need to answer phone calls, bargains or deal with complex procedures, selling a car through Garantibil’s platform costs a fixed fee of SEK 1,500.
The current focus is on the Swedish market and the plan is that the Company will launch its service in Q1 2014.
A first financing round to support the launch of the service in Sweden
Equity financing has been provided to Garantibil by the Bonnier Group, a multi-channel media group with companies and brands across 15 countries, and Industrifonden, one of Sweden’s largest and most experienced investors in growth companies.
The capital will be used for marketing the platform following its launch in early 2014, as well as for expansion with a primary focus on the Swedish market.
Stella EOC acted as sole advisor to the sellers.