Maniv Mobility is leading the seed round at 2trde. Existing investors Axel Springer Plug and Play and business angels Michael Viertler and Michael Bergmann, former managing directors of Mazda Motors Germany and Schwacke, also participated. Maniv Mobility is backed by Hyundai, Renault-Nissan-Mitsubishi, BMW, Valeo, Aptiv, Shell, and Deutsche Bahn, among others.
With the fresh capital, 2trde intends to expand its product offering. The Munich-based company also plans to expand into Austria, Spain, France, and the Benelux region by the end of 2021. The team is expected to grow to 25 employees by the end of this year.
Founded in 2017, the startup supports car dealerships, leasing companies, and automakers in selling used cars. The data of the cars for sale is digitized using machine learning. The cars are then offered for resale in real time via various marketing channels. Johannes Stoffel, Managing Director and founder of 2trde, says:
"We are delighted to have gained the trust of a VC as renowned in the automotive startup industry as Maniv Mobility. Maniv's network and expertise, as well as those of our existing investors, will greatly support us in our goal of making every vehicle marketer in Europe more digital, efficient, and profitable."
“2trde plays a crucial role in the digitalization of the B2B used car market”
According to the company, over 380 customers currently use 2trde. Around 2,000 vehicles pass through the Munich-based platform every month. Nate Jaret, Principal at Maniv Mobility, says:
“2trde's product range plays a crucial role in digitizing the B2B used car market, from the largest fleet manager to the smallest independent dealer, and in eliminating costly inefficiencies.”
This is the Israeli VC’s first investment in Germany.
