Car Selling Marketplace CarLotz Brings In $30 Million

CarLotz completed $30 million in financing from TRP Capital Partners.

CarLotz is a chain of marketplaces that allows used car buyers and sellers to transact with one another safely, efficiently, and anonymously. Its service enables customers to buy and sell used cars privately without the hassle of arranging meetings, organizing test drives, and conducting negotiations with other buyers or sellers. CarLotz also offers financing, warranties, and other after-market services that are not typically available in the private market.

In its announcement, the company said the investment from TRP will allow CarLotz quickly to open new locations in key geographic areas and become a true nationwide service provider to commercial remarketing clients.