Digital Motors Completes $10 million Series A to Finance Future Growth

Auto Tech Outlook | Wednesday, March 17, 2021

Digital Motors announces its expansion into Canada.

FREMONT, CA: Digital Motors, the pathbreaking online sales platform for automotive dealerships and manufacturers, announces its expansion into Canada. The company is financing its international expansions with the proceeds of a $10 million Series A funding round led by DN Capital based in London, Berlin, and San Francisco. Digital Motors dealer-based platform enables customers to go through all or portions of the whole automotive-purchasing process, comprising securing financing, online without stepping into the dealership. It turns any dealers’ or manufacturers’ website into an online store.

Dealerships and automakers alike require fully transactional online stores and marketplaces. Customers who configure their vehicle buying online drive to bottom-line profitability while also being much happier with the purchasing experience. After successfully releasing its platform in 2020, the company widened its footprint across the U.S. It introduced an array of new features, like sharing deals through social media and individual customer garages, which allow them to arrange and compare several transaction scenarios side by side. Instantly approved lease and finance offer eliminate any ambiguity from the buying process for all parties involved.

Digital Motors highly configurable SaaS platform can unearth massive scalability at attractive unit economics. The company is well-positioned as a critical enabler given the automotive sector’s global digitalisation trend and online sales. DN Capital is joined by many other high-profile investors, comprising Autotech Ventures and Jaguar Land Rovers InMotion Ventures.

Digital Motors functions as a software-as-a-service (SaaS) business model that allows automotive clients to get set up 24 hours or less. The platform is configurable to the dealerships business rules and adheres to any manufacturers’ corporate identity and MAAP rules.

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