Auto1 Group, the European online used-car marketplace, has raised $50 million in a new funding round led by Sequoia and Lone Pine Capital. The company, which was founded in 2012, plans to use the funds to expand its business across Europe and grow its B2B division.

The Auto1 Group

The Auto1 Group is the largest online used-car marketplace in Europe, with operations in over 30 countries. The company was founded in Berlin in 2012 by Christian Bertermann and Hakan Koc, and has since grown to become a major player in the European automotive industry.

The Auto1 IPO

The Auto1 IPO is the latest in a series of successful funding rounds for the company. In 2018, the company raised $558 million in a funding round led by SoftBank, and in 2020, it raised $400 million from investors including Baillie Gifford and Deutsche Bank.

The Investors

Sequoia is one of the world's leading venture capital firms, with a portfolio that includes companies such as Airbnb, Dropbox, and Stripe. The firm has a strong presence in Europe, with offices in London and Paris.

Lone Pine Capital is a US-based hedge fund that manages over $35 billion in assets. The firm has a long history of investing in technology companies, and has backed companies such as Facebook, Alibaba, and Spotify.

The Future of Auto1

The future looks bright for the Auto1 Group, with the company continuing to expand its operations across Europe. The company's B2B division, Auto1 Fintech, is also growing rapidly, offering financing and insurance solutions for dealers and customers.

Conclusion

The Auto1 IPO is a significant milestone for the company, and a testament to its success in the European automotive industry. With the support of Sequoia and Lone Pine, the company is well-positioned to continue its growth and expansion in the years to come.