Company Name : Gozoomo (Pre-owned car marketplace)
Funding Amount : $5mn
Investor(s) SAIF Partners.
Funding Round : Series A
SAIF Partners has announced an investment of $5Million in Bangalore-based start-up Gozoomo.
The peer-to-peer platform for user car transactions helps the patrons to buy verified, pre-inspected cars from direct owners without paying any brokerage. The investment will be used to strengthen their operations, technology and product leadership in their niche.
Gozoomo claims to be the biggest peer-to-peer car platform in Bangalore & Mumbai, with impending launches in Delhi, Pune, Hyderabad & Chandigarh. It follows a business model that seeks no commission or listing fees. Instead, it cuts out intermediaries, dealers and brokers, ensuring the best price to its buyers and sellers. Users are offered services throughout the transaction process including car shortlisting, establishing a fair price, inspection, paperwork, advance booking, loans, insurance, warranty, refurbishing and post sales support.