Carmoola secures £27m seed funding from InMotion Ventures and other backers to develop its car finance platform.
The seed round was led by InMotion Ventures with participation from VentureFriends, BCI, Clocktower Ventures, and angel investors to fund product development.
Carmoola is a British fintech operating a direct-to-consumer platform that streamlines car finance for retail buyers. The firm provides flexible credit options and digital tools designed to simplify vehicle purchasing.
Carmoola has raised £27m in a seed funding round led by Jaguar Land Rover investment arm InMotion Ventures, alongside VentureFriends, BCI, Clocktower Ventures, and high-profile angel investors including former Google UK and Ireland managing director Dan Cobley. The newly launched motoring fintech intends to allocate the capital towards product development and the initial commercial rollout of its platform.
Founded by former Movebubble and Zoopla executives, the company provides consumers with instant credit decisions and virtual payment cards for vehicle purchases. The service seeks to remove traditional broker commissions and paper-heavy underwriting processes while offering lower rates for electric vehicles and flexible repayment options.
From the founder
"Like many people, I went into it without a clear idea of how much I should spend or could afford."
Aidan Rushby
CEO at Carmoola
Use of funds
- 01Continue product development
Investors
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About the company
Carmoola
Carmoola simplifies vehicle purchasing through a direct-to-consumer car finance platform.