Prostor Capital, the Russian VC fund, and Moscow Venture Investment Fund have invested {{{*}}} $400K in Car-Fin.ru project which is a service that allows you to compare different offers when choosing a car, to get credit and leasing online.
Car-Fin team took part in the selection under the GTI Labs acceleration program, that is already supported by Prostor and Global TechInnovations, in the summer of 2012.
We really liked the business model and team of Car-Fin, – the Managing Director of Prostor Capital Alexey Soloviev notes. – GTI Labs business accelerator allowed us to see the dynamics of the project development and take flexible approach to the investment process when the business model is not tested yet. We hope that our participation in the project, both financial and expert, will allow the team to grow at the same rate and to create a demanded resource.
Car-Fin is an automated online broker that allows the buyer to compare and choose a car being guided by the ownership cost, compare banks and leasing companies’ offers for your chosen car, fill out an online form on the website providing your details for selected banks and leasing companies, receive transaction confirmation, choose dealer and insurance company, to conclude the transaction by confirming your choice.
Car-Fin says that received funds will be used for the product development and scaling to cover all regions of the Russian Federation starting from the Central region, and to expand the list of partners (at least 6 dealers, 10 banks and leasing companies, 10 car sites and at least one insurance company).
The project has been appreciated by Microsoft, when it received a grant in the amount of $50K from Microsoft Seed Fund.
In separate news, Avtozaper, a startup that provides parts sourcing services online, has also received investments of up to USD 100,000 from an angel investor in Kazan.
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