Motorway raises £11m in Series A funding from Marchmont Ventures and LocalGlobe to expand its marketplace
Marchmont Ventures led the Series A round with participation from LocalGlobe to support platform development and team expansion.
Motorway operates an online marketplace that connects private car sellers with professional dealers across the UK. The platform enables motorists to secure competitive prices for their vehicles from home.
Motorway has secured £11m in Series A funding from Marchmont Ventures and LocalGlobe to expand its used car marketplace. The fresh capital will be directed towards team growth, software development, marketing campaigns across the UK, and scaling its network of professional buyers.
The business has experienced rapid expansion since its 2017 launch, surpassing £130m in completed vehicle sales. Marchmont Ventures led the latest financing round, with continued backing from existing investor LocalGlobe.
Alongside the investment, Marchmont Ventures director Hugo Burge has joined Motorway as non-executive chairman. The company plans to use the funds to further strengthen its position in the UK automotive sector.
From the founder
"We started Motorway with the vision to bring speed, choice and transparency to the process of selling a car – an experience that’s gone mostly unchanged for decades."
Tom Leathes
CEO at Motorway
Investor perspective
"It’s an honour to be part of this exciting journey. I’m delighted to be taking on the role of Chairman to work more closely with the team at Motorway. They are bringing energy, transparency and exceptional technology into a complex and inefficient market, and the momentum is already quite breath-taking."
Hugo Burge
Marchmont Ventures
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
- 04Scale operations
Investors
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About the company
Motorway
Motorway operates an online used car marketplace connecting private sellers with professional car dealers.