Fintech startup Frontier Car Group announced the close of $22 million in financing. Six investors participated in the round, among them Balderton Capital, EchoVC Partners, TPG Capital, New Enterprise Associates and Partech Ventures.
Frontier Car Group builds and runs marketplaces focused on emerging markets in the auto sector. FCG aims to increase the efficiency of selling and buying cars in challenging environments through technology implementation and infrastructure creation.
In its announcement, the company said FCG will put the funds toward building and growing businesses in top-tier emerging markets, including Chile, Mexico, Nigeria, Pakistan and Turkey.