AutoDeal, a pioneer in the new-car buying experience in the Philippines, recently announced it has received an investment of $AUD 3.1 Million from Frontier Digital Ventures (FDV), a leading operator of online classifieds businesses.
With seed funding from Future Now Ventures back in 2014, AutoDeal has grown to over 1.6 million visits per month. FDV’s investment into AutoDeal marks the company’s first investment into the Philippines.
AutoDeal works with both car brands and dealer groups through the provision of lead-generation and lead-management services. One of AutoDeal’s key defining features is the ability for partners to track real-world transactions that occur from advertising through its website.
FDVs founder and CEO, Shaun Di Gregorio said: “AutoDeal is a very exciting investment for FDV given the promising Philippines market. We see a clear path for AutoDeal to leverage our experience in other markets as it seeks to extends its leadership across both new and used car sectors”
“In addition to enhancing our existing product features we’ll also be using the funding to further expand into used cars and to open several new automotive sub-verticals. This new investment from FDV marks a new chapter in our company’s journey and will help us further solidify our stance as the no.1. automotive portal in the country” stated AutoDeal co-founder and Chief Executive Officer Daniel M. Scott.