Mitsubishi Corp. and Mail.Ru Group have invested $4.1 million in car selling site Autospot, in exchange for a 21% stake in the company – setting the company’s post-money valuation at $19.1 million. The news was reported by the business daily Vedomosti based on exchanges with Autospot’s general manager Dmitry Andreev.
Autospot allows its users to buy a car with a discount from a network of authorized dealers in Russia. After launch in 2013, the startup secured several rounds of funding from such investors as Fastlane Ventures, SOL Ventures, and individual investors.
More than 30,000 cars are currently available for sale on the site, with discounts of up to 4.8 million rubles (around $70,000).
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E-Commerce, Finance, International, News, Retail, Startups, Venture / Private equity
