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NEWS February 13, 2020

Car sales service Cardia raises SEK 5 million from Aggregate Media and others

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Cardia increases safety and streamlines the process for both individuals and companies who buy or sell a used car. Aggregate Media, Levels Invest and private investors Simon Josefsson and Eva Engelbert participated in the company’s latest financing round. Now Cardia will further develop the service and also expand its new platform, Cardia Auktion, which helps companies sell their leased cars.

Cardia was in Sting Accelerate, learn about the program here

With Cardia, both sellers and buyers are given increased security in the car market. All cars are checked at impartial car testing stations to remove the risk of hidden faults. Through Cardia’s application, buyers get access to the test protocols that show the car’s condition on more than 100 test points, get a one-year car guarantee, insurance for 14 days and financing at low interest rates.

– We like companies that simplify and improve transactions through digitalisation and that is exactly what Cardia does. Good management and a scalable business model mean that I have high hopes for this investment, says Peter Brodén, investment manager at Aggregate Media.

The goal of the new share issue was to raise SEK 2 million to scale up sales in 30 new Swedish cities and launch new functions against car dealers and companies with service cars. The target was surpassed following an investment from Aggregate Media.

– We are incredibly pleased to have Aggregate Media and Levels Invest as investors. It gives us the opportunity to market ourselves on a much wider front, to reach a larger audience faster and to focus on growth and development, says Anni Mowlid, co-founder and CEO of Cardia.

Cardia’s journey began with the accelerator Sting in 2018. The next step for the company is to launch a new version of the application for those who want to buy or sell their car in the private market. Cardia will also expand partnerships with car dealers who want to increase their car purchases through the new platform, Cardia Auktion, which helps companies sell their leased cars at better prices.