0 likes62 views

Alternative investment platform TheCarCrowd target global expansion after £1M deal

May 13, 2024

Innovative automotive investment platform TheCarCrowd has just completed its two-tranche seed round, securing a total investment of over £1M.

Investment from an experienced group of angels – as well as repeat investment from Notion Capital – signals confidence in TheCarCrowd’s ambitious global strategy, its growing list of partners, and recurring success in asset selection and acquisition.

TheCarCrowd operates as a specialist curation service, using its in-house expertise and proprietary data analytics to identify and source cars with powerful investment cases. TheCarCrowd’s asset selection algorithm has curated a portfolio of more than 30 investment vehicles, collectively providing estimated annual returns of 17.74%. It has also delivered two successful exits, returning over 35% for investors in a single year.

This seed round capital will be deployed to further drive TheCarCrowd’s mission, unlocking classic car investment for a wider audience than ever before. By utilising new distribution partnerships, including Splint Invest and Konvi, TheCarCrowd has expanded its offering into Switzerland, Germany, France, and Ireland. With over £1 million of assets already funded via this new business-to-business approach, there is a strong pull from European investors for this high-performing asset class.

Beyond Europe, TheCarCrowd is developing relationships with distribution partners in the Middle East and Africa (MEA). It has recently received full Sharia Compliance Certification from The Shariyah Review Bureau. With significant interest in high-value vehicles and alternative investment in the region, there is potential for exceptional growth.

Alongside its growing partnerships, TheCarCrowd is expanding its appeal to a broader audience with plans to launch an asset-backed tokenised offering. At the same time, it will cater to high-net-worth investors through its private portfolio and exclusive investment offerings – each of which provides higher-value vehicles with considerably greater potential returns. The platform also intends to launch a more ‘traditional’ alternative investment fund later in 2024, focusing on automotive assets.

David Spickett, CEO of TheCarCrowd, commented: “The immense success of our seed funding round marks another pivotal milestone in our journey, setting us up for global growth and the delivery of innovative products and services in new markets. We are very excited to partner with like-minded investment platforms to further help unlock opportunities for investors globally. Alternative asset classes have proven extremely popular with investors when offered through trusted providers and we are in an excellent position to service these markets and deliver asset-backed, high-performing investments into the future.”