Frontier Group raised SEK 190M in an investment round led by Balderton and New Enterprise Associates
Frontier Car Group, a Gothenburg and Berlin-based startup, which builds and runs marketplaces for used cars in emerging markets, announced closing a $22 million investment. The money comes from a range of international investors, including Balderton Capital, EchoVC+ TPG, NEA, Partech Ventures, Oriflame.
Frontier, founded in 2016 by Peter Lindholm, Sujay Tyle and André Kussman, has operations in Chile, Mexico, Nigeria, Pakistan, Turkey but operates out of Berlin, with 200 employees. It’s going to use the cash to expand into Chile, Mexico, Nigeria, Pakistan and Turkey.
Sujay Tyle, CEO of Frontier
“The automotive sales sector is fundamentally broken in top-tier emerging markets around the world. Despite massive consumer demand, there is no good way for people to sell their cars efficiently for a fair price. Our vision is to reinvent how the used automotive sales sector works in global emerging markets through technology and infrastructure creation.”