#Iconiq growth professional#

Over 100,000 used cars have been sold on Motorway since launch, with over 8,000 cars currently being sold a month and a new sale being agreed every five minutes. As a result, Motorway recorded a 300% uplift in third-quarter sales to $411 million compared with $105 million last year. Motorway’s continued focus on product innovation and improving the customer experience meant it was well positioned to capitalise on the behavioural change driven by the pandemic, with both dealers and car owners increasingly seeking to buy and sell cars online.

#Iconiq growth professional#

With a network of 4,000 professional car dealers using the platform to directly bid on these vehicles, Motorway helps customers sell their car for up to £1,000 more in as little as 24 hours – while supporting its car dealer partners to acquire the best used car stock online. Motorway enables customers to quickly and easily sell their car for the best price from the comfort of home using only a smartphone. Existing investors Latitude, Unbound and BMW i Ventures also participated in the round. The round is led by Index Ventures, backers of Deliveroo, Etsy and Dropbox, and ICONIQ Growth, a leading Silicon Valley technology investment firm and partners of Collibra, Miro and Wolt. London, Monday 29th November – Motorway, the UK’s fastest growing used car marketplace, has today achieved unicorn status with a valuation of over $1bn following a $190m Series C funding round. Company also announces the appointment of James Wilson, former Director of Marketplace Fulfillment at Amazon UK, as Chief Operating Officer.Motorway has seen 300% YOY growth and is on a run-rate to deliver more than $2bn in sales over the next 12 months.Used car marketplace Motorway, is valued at over $1bn in a new funding round of $190m, co-led by Index Ventures and ICONIQ Growth, with existing investors Latitude, Unbound and BMW i Ventures also participating.

MOTORWAY HITS UNICORN STATUS WITH $190M SERIES C FUNDING ROUND FROM INDEX VENTURES AND ICONIQ GROWTH