carwow celebrates one million users and £550m worth of cars sold

Startups 100 listed carwow, an online car buying platform, is celebrating one million users with £550m worth of cars sold in just under two years since its launch

Launched in February 2014 by 29-year-old James Hind, along with co-founders Alexandra Margolis and David Santoro, the site claims to enable users to research multiple quotes on new cars with the aid of impartial reviews.

Their team has grown from 14 to 55 members of staff currently with over 1,000 dealerships on its network.

To date, the company has raised over £18m worth of investment, most recently picking up £12.5m in a Series B funding round led by Accel; backers of Spotify and Dropbox.

James Hind, founder of carwow.co.uk, said:

“This is a really exciting time for us. The fact that one million people have now signed up to carwow is a strong indication that change is ahead in the new car buying market.

“We live in a society now where people want to be able to do everything via the web; for convenience more than anything.”