Motorway operates an online, auction-based platform that enables consumers to sell used cars directly to verified car dealers. The platform simplifies the selling process by providing instant online valuations and competitive bidding from professional buyers.
By eliminating intermediaries and traditional dealerships, Motorway helps sellers achieve higher prices while giving dealers access to high-quality vehicle inventory at scale.
What Is Motorway and What Does It Do?
Motorway, founded in 2017, is a London-based automotive technology company.
The company operates a consumer-to-business (C2B) digital auction marketplace where private vehicle owners receive free online valuations and offers from a nationwide network of professional car dealers. Sellers can compare bids and complete transactions entirely online.
Motorway employs approximately 164 people and primarily serves the UK used-car market.
How Much Funding Has Motorway Raised?
1. Seed Round
- Amount Raised: £2M
- Date: 2017
- Motivation: To launch the platform and validate the C2B car auction model.
2. Series A
- Amount Raised: £10M
- Date: 2019
- Lead Investors: March Capital
- Motivation: To expand the dealer network and enhance platform technology.
3. Series B
- Amount Raised: £55M
- Date: 2020
- Lead Investors: Iconiq Capital, BMW i Ventures
- Motivation: To scale nationwide operations and increase dealer participation.
4. Series C
- Amount Raised: $190M
- Date: November 2021
- Lead Investors: Index Ventures, Iconiq Capital
- Motivation: To accelerate growth, expand engineering teams, and strengthen market leadership.
Total Funding Raised: $276 Million
Current Valuation: $1 Billion (as of Nov 2021)
Latest Funding Date: November, 2021
Key Investors
1. Iconiq Capital
- Details: A global investment firm managing capital for technology founders and institutions.
- Investment Focus Areas: Technology, fintech, marketplaces.
- Notable Investments: Motorway, Airbnb, Stripe, Adyen.
2. BMW i Ventures
- Details: The venture capital arm of BMW Group, investing in mobility and transportation technologies.
- Investment Focus Areas: Automotive technology, mobility, sustainability.
- Notable Investments: Motorway, ChargePoint, Nauto.
3. Index Ventures
- Details: An international venture capital firm supporting entrepreneurs at every stage.
- Investment Focus Areas: Technology, marketplaces, fintech.
- Notable Investments: Motorway, Revolut, Dropbox.
4. March Capital
- Details: A venture growth firm investing in cloud, software, and marketplace platforms.
- Investment Focus Areas: Enterprise software, marketplaces, cloud infrastructure.
- Notable Investments: Motorway, Airbnb, CrowdStrike.
Where Is Motorway’s Headquarters?
Motorway is headquartered in London, United Kingdom, giving it access to one of Europe’s largest automotive and digital commerce markets.
What’s Next for Motorway?
Motorway is focused on deepening dealer penetration across the UK while improving pricing transparency and seller experience. Future priorities include expanding vehicle categories, enhancing auction intelligence, and leveraging data-driven pricing to maintain leadership in the digital used-car marketplace.
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