Modern Car Group
Developes and owns highly efficient multi market fin-tech business platform for company car leasing.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
SEK1.7m | Early VC | ||
| Total Funding | 000k | ||
| EUR | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | (57 %) | 870 % | (12 %) | (85 %) | 180 % | 183 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | - | (250 %) | (42 %) | (14 %) | 8 % | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (60 %) | (223 %) | (36 %) | (17 %) | (25 %) | (65 %) | (36 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Modern Car Group, founded in 2014 and headquartered in Malmo, Sweden, operated as a developer of an online car leasing platform. The company's core business was to simplify and make car leasing more cost-effective for consumers.
The platform provided users with relevant car information and a comparison of leasing deals. In addition to the core leasing marketplace, the company also offered advisory services on insurance and financing, aiming to provide a comprehensive solution for individuals looking to lease a vehicle. The business model was centered around enabling car rental and leasing companies to reach a wider audience of potential buyers, while empowering users to make informed decisions through comparison and transparent information.
The company successfully raised a total of $865K in funding, with an Early Stage VC round in March 2017 bringing in $558K. At that time, the company was generating revenue. However, despite its initial traction, Modern Car Group ultimately ceased operations, with a liquidation bankruptcy notice dated September 19, 2022.
Keywords: online car leasing, car leasing platform, cost-effective leasing, car information, leasing deals, insurance advice, financing advice, car rentals, vehicle comparison, automotive marketplace, Sweden startup, Malmo tech, mobility tech, out of business, liquidated company, automotive finance, car leasing comparison, online automotive, vehicle leasing, digital car sales