Autozen raises CAD $5.1M, expands across Canada and into Seattle
Vanedge Capital led the oversubscribed seed round into the auto sales marketplace.
When he spoke to Vancouver Tech Journal at the end of last year, Autozen CEO Olivier Vincent teased national and international growth plans. Now, thanks to an influx of cash, those plans are coming to fruition.
Autozen, an online auto sales marketplace, closed a seed funding round of CAD $5.1 million. Vanedge Capital led the round with participation from Anges Québec, several super angels, and Autozen’s existing investors.
The talk of the dealership: "The remarkably positive feedback we receive from consumers has shown that our mission to re-invent the car-selling experience is well on its way,” said Olivier Vincent, CEO and co-founder of Autozen. “And car buyers keep joining the platform every week, fueled by the demand of the exclusive inventory we curate, only available at Autozen. Based on this solid validation, this seed round will fuel our expansion into new markets, both in Canada and the US."
"In a world where car selling has been painful and complicated, Autozen offers a straightforward process that is timely, predictable, efficient, and convenient," said Paul Lee, managing director at Vanedge Capital. "We are excited to support Autozen and its uniquely qualified management team in their plans for growth and expansion."
Test drive: Autozen is currently expanding from its Vancouver home base to Toronto, Calgary, and Edmonton. Also launching is its presence in the U.S., which starts with the Greater Seattle Area.
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