Wayroo raises £250k from Mercia to expand its automotive software platform.
The MEIF-backed round will support the roll-out of digital tools for car dealerships.
Wayroo provides a software platform designed to help car dealerships digitise their operations, replace manual spreadsheets and improve sales efficiency. The firm was launched in 2019 by motor industry entrepreneur Sanj Gidda.
Wolverhampton software platform Wayroo has secured £250k in seed investment from the MEIF Proof of Concept and Early Stage Fund, managed by Mercia. The capital will enable the business to further develop its digital platform and roll it out more widely across the automotive sector.
Founder Sanj Gidda launched the venture in 2019 after drawing on his experience as chief executive of car leasing brokerage VoozoDealer. The latest injection of funds arrives as dealerships increasingly adopt remote sales models and digital tools to navigate challenging trading conditions.
From the founder
"The shift from car sales to leasing and other market trends are driving the need for efficiencies. Our platform helps dealerships to streamline their processes, allowing them to monitor the performance of their sales and marketing operations and source the right number of vehicles to meet demand. We believe Wayroo could be a key step in building a digital ecosystem which would eventually link suppliers and transform the automotive industry."
Sanj Gidda
CEO at Wayroo
Use of funds
- 01Continue product development