Carmoola secures $19.7M funding through their impressive 14-slide pitch deck

TLDR: UK car financing fintech startup Carmoola has raised $19.7 million in a Series A extension funding round. The company, founded in 2021, offers a digital marketplace for car purchases and uses a buy now, pay later approach to vehicle financing. Users can set a budget, enter a registration plate, and secure a loan through Carmoola’s platform. The company’s proprietary pricing algorithm and access to open banking data help determine credit scoring and APRs for customers. Carmoola aims to achieve profitability with the new funding, expand its team, and focus on marketing and capital markets. The investors in the funding round include QED Investors, VentureFriends, InMotion Ventures, AlleyCorp, and u.ventures. The company’s CEO, Aidan Rushby, stated that Carmoola’s revenues have grown fivefold.