Rodo, Inc., a NYC-based car ecommerce platform, raised $18m in Series B financing round.
The round, which brought total funding to $45m, was led by Holman Enterprises and Evolution VC Partners with participation from existing investor IAC along with Kevin Hart’s HartBeat Ventures and auto industry veterans Mack McLarty, Vice Chairman of RML Automotive, and Franklin McLarty, Chairman and CEO of McLarty Diversified Holdings and Ken Schnitzer, former Chairman of Park Place Automotive Group. Bill Cariss, President & CEO of Holman Strategic Ventures, will join the Rodo board.
The company intends to use the funds to scale its dealership network nationwide and invest in marketing and customer acquisition.
Led by Nathan Hecht, CEO, Rodo provides a solution where a consumer can lease or purchase a new car (or sell an old one) quickly with same-day delivery service. The company does not buy or maintain expensive fleets or inventory, instead it partners with local dealers across the US, extending their digital reach while offering consumers an on-demand experience to instantly lease, purchase, and finance a new vehicle, entirely from their mobile device. Rodo’s partner network counts more than 1,200 dealerships across ten states and offers more than 80,000 vehicles from 25 manufacturers for immediate lease or purchase via the app or website.
FinSMEs
27/07/2021