OLX Group, a global online classifieds platform has recently announced investing a series C funding round closing with $8.9 million through its new financial branch, OLX Ventures to online car marketplace, Frontier Car Group (FCG), which has presence in six countries including Indonesia and Pakistan.
FCG operates brands BeliMobilGue in Indonesia and CarFirst in Pakistan in the Asian region.
Based in Berlin, FCG develops, launches, and operates used-automotive marketplaces within high-growth market economies. The startup increases the efficiency of selling and buying cars through technology, infrastructure creation, access to capital and innovative business models that allows all stakeholders to gain from its impact.
Currently boasting operations in Nigeria, Mexico, Chile, Turkey, Pakistan, and Indonesia, FCG said it will use the funds and the partnership with OLX Group to fuel its expansion into new territories and enhance its instant cash services for users.
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