“We had an insane amount of demand from our customers that wanted to sell us their cars,” said Yossi Levi, Co-Founder and CEO of Gettacar.
The more than 100-person company already has a large delivery team, he said, so getting into buying isn’t a heavy lift logistically.
The new option comes as the company undergoes an expansion into new markets. Founded in August 2018, it’s already established a large reconditioning facility in Northeast Philadelphia where it refurbishes used vehicles to sell on its website and is continuing to expand in Baltimore, the second market it entered after Philadelphia. The company has about 800 cars in its inventory, and more than 500 are available on its site at all times. In the last year, it refurbished "several thousand" cars and expects to more than double that amount in the next year.
Plans are also in the works to grow to another geographical market in the second or third quarter of this year. Levi declined to name the location as its plans are still being finalized. He did say the new market would add about 10 million people to its potential customer base.
The company is backed by venture capital, but Levi declined to disclose the amount or the investors, except to say Gettacar has “a few strong groups of investors that really, really believe” in it.
“Financing is a beautiful thing, but financing is just oxygen to propel a business forward," he said. "It’s great but I don’t believe it’s something that we should be celebrating."
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