Funding round
Carmoola Seed
Carmoola, which works in car finance solutions in London, raised $35M in a Seed round announced on 8 Apr 2022. 4 firms took part, with 1 individual investor. It is Carmoola's first venture round on record.
$35M
Amount raised
27,000,000 GBP converted
Not disclosed
Post-money valuation
4
Investors
no lead named
Valuation
What this round says about the price
Carmoola did not disclose a valuation in this round. It is Carmoola's first venture round on record, 1 year after it was founded in 2021. It is 77% of the $46M Carmoola has raised in the venture rounds on record. Carmoola raised again 10 months later: a Series A round of $10M in Feb 2023.
Carmoola's funding rounds
Carmoola has 2 venture rounds on record and 3 other deals. This one is highlighted.
- Seed this round 8 Apr 2022 $35M
- Debt not a venture round 1 Feb 2023 $117M
- Series A 22 Feb 2023, led by QED Investors $10M
- Other not a venture round 16 Jan 2024, led by QED Investors $20M
- Debt not a venture round 24 Jun 2025, led by NatWest $406M
Investors
Who put money in
4 firms took part; no lead investor was named.
Investors
- backs 24 venture-backed companies new investor
- backs 32 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- backs 91 venture-backed companies new investor
Individual investors: Dan Cobley.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
97 Seed rounds in Loans & Financing within a year either side disclosed an amount; the median was $3.7M, and this round was 9.5 times the median. The closest in time, other companies' Seed rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 19 Apr 2022 | $30M | not disclosed | InfoEdge Ventures and Village Global |
| Loans & Financing | 1 Apr 2022 | $7.5M | not disclosed | not named |
| Loans & Financing | 12 Apr 2022 | $5.8M | not disclosed | Stackpoint |
| Loans & Financing | 27 Apr 2022 | $5.3M | not disclosed | HW Capital |
| Loans & Financing | 13 Apr 2022 | $5.0M | not disclosed | not named |
| Loans & Financing | 6 May 2022 | $35M | not disclosed | not named |
| Loans & Financing | 9 Mar 2022 | $35M | not disclosed | Meron Capital and Cardumen Capital |
| Loans & Financing | 1 Mar 2022 | $20M | not disclosed | WestBridge Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Carmoola raise in its Seed round?
Carmoola raised $35M in its Seed round, announced in Apr 2022.
Which investors took part in Carmoola's Seed round?
InMotion Ventures, VentureFriends, British Columbia Investment Management Corporation and Clocktower Ventures.
What was Carmoola's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Loans & Financing?
97 Seed rounds in Loans & Financing within a year either side disclosed an amount; the median was $3.7M, and this round was 9.5 times the median.
Did Carmoola raise again after this round?
Yes: a Series A round in Feb 2023 of $10M.