The heaviest seed capital round in Italy since 15 months.
All Brain pivotal to design and execute the fund-raising strategy as well as the public launch.
04.13.2016 | GoodBuyAuto, the leading Italian mCommerce platform for car buyers and car seller has raised its first round of seed capital. With an overall funding in excess of Eur 1,5mln it’s the heaviest seed round in Italy since end 2014. Among the investors private individuals and strategic partners in the high-tech and automotive sectors. It’s the largest publicly known seed capital round in Italy without the help of institutional investors.
With its unique “Fund Raising Support” All Brain helped GoodBuyAuto to search for, identify and negotiate new funds from professional and industrial investors. All Brain’s dedicated services included: outside-in startup analysis, fund raising strategy, startup positioning, unique selling proposition to investors, terms negotiation support and networking.
All Brain was also synergically involved in the definition and execution of the development roadmap including: innovation, technology, strategy, marketing, communication and human resources from scratch and until the public launch in March, 2016.
“In a highly competitive venture capital market with a demand for funding that overwhelms the offer, an entrepreneur, if he’s lucky, will only ever have one chance to make a positive first impression on a potential investor. Fund raising is a unique skill than can be in-sourced from All Brain” said All Brain’s Managing Partner Marcello Vena who also invested in the fledgling startup.
GoodBuyAuto is the first C2C guaranteed mobile marketplace for pre-owned cars in continental Europe.
It offers to car buyers a mobile booking experience (mobile commerce) of certified high quality cars and home delivery with 12 months warranty and 14 days money back guarantee. The prices are lower than those of any professional car dealer.
It offers to car sellers a 100% sale guaranteed marketplace if the car passes the demanding marketplace’s quality checks. Within 60 days the car is sold at a better price than any offered by professional car dealers. If GoodBuyAuto is unable to find a new private buyer, it will buy the car itself. 100% guaranteed.
All cars in the marketplace meet the high standards set: up to 5 years old, less than 100.000 km, less than 3 car owners, no accident, optimal conditions and pass a 200-points physical inspection.
The company, based in Milan, currently operates at national level on the sell-side and at regional level (North Italy) for the buy-side of the marketplace.
Online Press Review (in Italian language)