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mars 14, 2024

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Volvo Cars Tech Fund makes strategic investment in online marketplace carwow. 9489

Volvo Cars has taken a strategic minority stake in carwow, a leading online marketplace for buying and selling cars, through the Volvo Cars Tech Fund, its venture capital arm. As a leading platform in Europe for buying new cars and helping consumers sell their current car online, carwow has experienced considerable growth in recent years and is now one of the market leaders in the UK, Germany and Spain for online sales of new cars. Through the investment, Volvo Cars will gain valuable insights in areas such as online sales, customer acquisition and content creation, which will help its shift towards online and direct customer relationships. The equity investment is the next step in the existing partnership between Volvo Cars and carwow, which includes collaborations on Volvo Cars’ subscription service as well as driving traffic and sales leads to Volvo Cars and its retail partners. “Third-party marketplaces play a key role in any consumer industry, which i

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