Turkey’s VavaCars, an online trading platform for buying and selling second hand cars, has raised $50 Million in Series B funding round in order to expand its operations both in Turkey and Pakistan.
According to the statement released by the company, this new investment will support the brand’s continuous growth and speed up the transition to online vehicle sales by proceeding to build the technological and physical platforms and customer center network.
VavaCars’ new investors include Dutch-based founding investor Vitol, US-based Duquesne Family Office, and Singaporean GIC.
VavaCars aims to expand into new markets by leveraging its existing and new investors.