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Hellocar sales platform raises £1m in funding round

The car buying platform Hellocar has secured £1 million to further its bid to be the latest disruptor of the online retail sector.

Created by the founder and chief executive of The Car Buying Service, Nic Carnell, the new business raised the funds in a funding round led by JamJar Investments, the Innocent Drinks founders’ venture capital fund, and Alex Chesterman, founder and chief executive of Zoopla Property Group.

It comes as Henry Lane Fox, part of the founding team behind and chief executive of Founders Factory, join the Hellocar business board as a director.

A statement issued by the business said that the funding would be used to launch Hellocar in Manchester and grow its existing team.

Hellocar claims that it will bring more transparency and convenience to the car buying experience.

Its AA-approved online car listings are home delivered and if the customer changes their mind in the first seven days Hellocar will give them their money back.

Quoted on TechCrunch, Carnell said: “I feel Carspring are approaching the problem in a very functional/un-emotive way, whereas we’re building Hellocar around the customer, focusing on the end to end customer experience from the minute they land on the website to the call they receive 30 days after delivery of their car.

“We’re focusing the quality of the cars and less about throwing as many on the site as possible.”

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