IRVINE, Calif .– (COMMERCIAL THREAD) – Digital Motors®, the revolutionary online sales platform for auto dealers and manufacturers, today announced its expansion into Canada. The company is funding its international expansions with the proceeds of a $ 10 million Series A funding round led by DN Capital based in London, Berlin and San Francisco.
Digital Motors’ dealer-based platform allows customers to walk all or part of the auto buying process, including securing financing, online without entering the dealership. It turns any reseller’s or manufacturer’s website into an online store.
“Car dealers and manufacturers need fully transactional online stores and marketplaces,” said Andreas Hinrichs, CEO of Digital Motors. “Customers who configure their vehicle purchase online increase their profitability, while being much more satisfied with the shopping experience. ”
After successfully launching its platform in 2020, the company has expanded its presence in the United States and introduced an array of new features, such as sharing offers through social media and individual customer virtual garages, which allow them to organize and compare multiple transaction scenarios side by side. Instantly approved lease and finance offers take the ambiguity out of the buying process for all involved.
“Digital Motors’ highly configurable SaaS platform can unlock massive scalability to an attractive unit economy,” said Steve Schlenker, Managing Partner of DN Capital. “The company is well positioned as a key enabler given the global automotive industry trend towards digitalization and online sales. ”
DN Capital is joined by several other leading investors, including Autotech Ventures and InMotion Ventures of Jaguar Land Rover.
Digital Motors operates a Software as a Service (SaaS) business model that enables automotive customers to set up in 24 hours or less. The platform is configurable under dealership business rules and adheres to any manufacturer’s corporate identity and MAAP rules. For more information or a product demonstration, visit digitalmotors.com.
About DN Capital
DN Capital is a global early-stage venture capital firm, founded in 2000 and based in London, Berlin and San Francisco. DN Capital is focused on seed, Series A and Series B opportunities in Europe and North America in four technology sectors: software, fintech, marketplaces and consumer internet. DN Capital’s automotive experience includes leading the Series A investment in Auto1, which completed an IPO on the Frankfurt Stock Exchange for € 7.9 billion earlier in 2021.
About digital motors
Digital Motors Corporation is an automotive financial technology and retail (FinTech) platform providing comprehensive online sales solutions to the automotive industry. Headquartered in Irvine, Calif., The company’s revolutionary technology addresses the growing needs of dealerships, dealer groups, auto lenders and automakers to provide their customers with an end-to-end secure online buying and financing journey. at the end. For more information or to request a demo, visit digitalmotors.com.