CarZar gets backed by Silvertree Capital

Venture Capital firm Silvertree Capital, who backed PriceCheck and CyberCellar, is now backing second-hand auto-trader CarZar.

CarZar is a stats-based auto-trader which prices the vehicle you’re looking to sell, using national data and their own algorithm, to offer consumers a convenient way to sell their vehicle.

The user will first need to fill in the make and model of the vehicle they’d like to sell. Some vehicle models weren’t a part of their automated listing, we found, such as the Ford Capri. Next, you’ll be required to fill out your contact details and then a quote will be sent to you. You’ll also receive details of a possible evaluator to view the vehicle once you’ve completed the process.

CarZar was created by Brazillian Fernando Pinheiro, who has a degree in Civil and Industrial Engineering and consulted for firms such as Engevix and Passarelli. Another founder, Michael Muller, is a chartered accountant who previously worked for PWC and McKinsey & Co. Robert Thompsett, an auto-trader expert who’s worked in the industry for more than 30 years for dealerships such as Brian Porter Motors, AMH, and Barlows, is also part of the team.

The aim of CarZar is to sell your car as quickly and easily as possible

The price of a new car compared to a second-hand vehicle is continually widening. “These influences combined mean that the prestige of owning an expensive car is slowly being replaced by a more utilitarian attitude towards cars,” said Pinheiro in an emailed statement.

“The auto-trade market as we know it today will look fundamentally different in the next five to ten years, in our view. The demand for second-hand cars is, therefore, on the rise,” he continued.

“In South Africa, the taxi, hospitality, media, property and electronics industry have all been turned upside down by online entrants. Now it is the turn of cars,” concluded joint MD of CarZar Michael Muller.

Featured image: Prayitno via Flickr