Fil Rouge Capital joins AutoVantage’s funding round with €100,000
Rōnin Team on mai 27th, 2022 / Crowdfunding Journey / 2 min read
Croatian investment fund Fil Rouge Capital invests €100,000 to support the growth of the AutoVantage startup, which aims to innovate the buying process in the car dealership industry.
With the addition of new investors, AutoVantage exceeds the target proposed in the crowdfunding campaign run on weronin.com. This investment aims to accelerate the platform’s development plans and prepare the business for launch in international markets.
AutoVantage offers the users the opportunity to compare offers from car dealers all over Romania and choose the best one. The users fill out a form based on which AutoVantage proposes and negotiates the offers on the buyer’s behalf that meet their requirements and needs.
The investment round amounts to over €200,000 and will be aiming to contribute to the next steps of business growth. The startup seeks to compete with major players within the international market of the car dealership sector.
Founders Pincu Ionescu and Dan Dimitriu mention the evolution of AutoVantage:
- Over 1,400 customers and over 200 cars have sold so far;
- Annual income in 2021 of € 25,800;
- A strategic partnership with Rompetrol;
- An online community of over 56,000 followers on YouTube.
‘AutoVantage started from a common idea of a bunch of car enthusiasts who identified a real need in the market, validated by others too. So we created this startup two and a half years ago and we managed to grow this business much faster than we expected, we managed to attract a team of brilliant people around us, and we are now successfully raising our first round of financing. The great news is coming soon, so stay tuned.’ – Pincu Ionescu, co-founder AutoVantage
Fil Rouge Capital is a private investment fund that aims to allocate €42M to startups and scaleups by 2023. The investment fund portfolio includes startups and tech companies like Flaviar, Borza Terjatev, Povio Labs, and Eurosender. FRC conducts acceleration programs, and in April they ran a pitching session for tech startups in Romania. As a result, AutoVantage received an investment of €100,000.
The crowdfunding campaign is open to the public until June 1st. Those interested can join over 250 investors who have already committed to supporting their mission here.
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