Gettacar raises $25 million
Online car buying startup Gettacar announced $25 million in funding, bringing the total raised to $48 million. The round was led by 3L and Luxor Capital, with additional participation from Torch Capital.
Founded in 2018, Gettacar features a “direct-to-your-door” model that allows consumers to buy, finance, and trade used cars. Car buyers can buy online in as little as 12 minutes, get real-time online financing options, and have seven days to decide whether they’d like to keep the car. Every Gettacar vehicle comes with the Gettacar Guarantee, the 365-day bumper-to-bumper protection and maintenance package.
In 2020, the company saw a 186% year-over-year increase in sales growth and in 2021, the projected sales growth is 210% year-over-year. The startup is currently available in seven markets in the US including New York and Washington DC and it counts 150 employees spread between the Philadelphia area and Tel Aviv.
“Buying a car is a huge decision for nearly every person going through the process, and that’s just the first step. Then there’s the stress of car upkeep and maintenance, which is why we built Gettacar around a simple philosophy: create the best car buying & ownership experience. With consumer offerings car buyers can’t get anywhere else, including 48 hour deliveries, at home test driving, and an unparalleled 365-day bumper-to-bumper protection and maintenance package included with every car, Gettacar is a unique online car buying platform that is entirely focused on the customer experience from day one and represents the future of car buying.” – Yossi Levi, founder and CEO of Gettacar.
“Consumers now expect a fully digital and seamless car buying experience. Gettacar delivers tremendous value for its customers by controlling every aspect of retailing in house, and we are thrilled to continue partnering with Yossi and team.” – Shawn Colo, cofounder of 3L.
“Yossi and the Gettacar team have done an incredible job combining their deep understanding of the traditional used car space, their obsession with user satisfaction and impressive tech acumen to create a seamless, world-class consumer experience and change the way people buy cars for many years ahead.”- Jon Keidan, founder and managing partner, Torch Capital.
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