The website allowing consumers to compare new car prices from approved dealers
Founders: David Santoro, Alexandra Margolis and James Hind
Founded: February 2014
With its inherent hidden costs and haggling, buying new cars can be stressful for consumers, who just want to know that they’re getting a reasonable deal. Comparison website carwow mitigates these hassles by allowing its users to quickly compare prices from rated and approved dealers.
Claiming to be the only company of its kind in the UK, founders David Santoro, Alexandra Margolis and James Hind’s company started out as a research site, before they realised the frustrations consumers had with the car buying process. Now, the platform allows users to specify exactly what car they’re looking for – from colour, to engine type and price, to see the most competitive local offers. If the user finds a car they’re interested in purchasing, they can contact the dealer, with carwow charging each dealership on the number of sales completed through the platform.
The Holborn-based business has raised around £4.6m in finance to date, and with 25 employees and growing, the start-up has ambitious plans to undergo a period of further expansion over the next 12 months to become the go to place for new car buyers in the UK market. Having helped over 10,000 buyers to date, it seems we’ll certainly be hearing more from carwow…