Motorway Valuation, Funding & Investors

Motorway is valued at $1B as of November 2021.

Last Motorway valuation

$1B

Series C · Nov 2021

Last Motorway funding round

$190M

Series C · Nov 2021

Cumulative funding Motorway raised

$275M

across 5 funding rounds

Key investors in Motorway

  • Marchmont Ventures
  • Index Ventures
  • LocalGlobe
  • BMW i Ventures
  • Unbound
  • Latitude Investment Management

Motorway Overview

About Motorway

Motorway is a UK online car-selling platform founded in 2017 that connects private sellers to verified dealers. Users upload vehicle details via app for instant valuations and sales within days, with over 1 million monthly visitors. London-headquartered, it processes hundreds of daily transactions nationwide using AI matching and logistics.


Founded

2017

HQ

United KingdomLondon

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Commission

Valuation

$1B (Nov 2021)

Motorway Valuation

Motorway is currently valued at $1B, based on its Series C in November 2021.

The $190M round was led by ICONIQ Capital and Index Ventures, with participation from Latitude Investment Management, BMW i Ventures and Unbound.

Motorway valuation by funding round

Motorway valuation by funding round
DateStageValuation
Nov 2021Series C$1B

Motorway Funding History

Motorway has raised a total of $275M across 5 funding rounds.

Motorway's first fundraising round was a $600K angel round in May 2017. The most recent completed round was a $190M Series C in November 2021.

Motorway funding rounds

Motorway funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series CICONIQ Capital (lead); Index Ventures (lead); Latitude Investment Management; BMW i Ventures; Unbound$190M$1BMotorway is a UK-based online platform for buying and selling used cars, connecting private sellers directly with a network of professional car dealers through an auction system. Launched in 2017, it streamlines the process with instant valuations, free inspections, and quick payouts, aiming to disrupt the traditional used car market. By late 2021, it had sold over 100,000 cars since inception, with monthly sales exceeding 8,000 vehicles—one new sale every five minutes—and a dealer network of 4,000 professionals. On November 29, 2021, Motorway announced a $190 million Series C funding round co-led by Index Ventures and ICONIQ Growth, with participation from existing investors Latitude Investment Management, Unbound, and BMW i Ventures. This followed a $67.7 million Series B in June 2021, bringing total funding to around $276 million. The round valued Motorway at over $1 billion, achieving unicorn status. Funds were earmarked to accelerate growth, expand engineering teams, and enhance market leadership in the UK used car sector. Motorway reported explosive growth, with 300% year-over-year sales uplift in Q3 2021 to $411 million from $105 million the prior year, positioning it on a run-rate for over $2 billion in completed sales (GMV) in the next 12 months. Despite capturing less than 1% of UK used car sales, its rapid scaling amid pandemic-driven digital shifts highlighted its potential.
Jun 2021Series BIndex Ventures (lead); Unbound (lead); Marchmont Ventures; Latitude Investment Management; BMW i Ventures; Founder Collective$66M--
Jun 2019Series AMarchmont Ventures (lead); LocalGlobe$14M-Motorway is a UK-based used car marketplace connecting consumer sellers to professional car buyers through its price comparison website. Launched in July 2017, the platform had delivered over £130m in completed car sales and grown to a team of 40 by June 2019. It announced £11m in Series A funding on June 25, 2019, led by Marchmont Ventures with participation from existing backer LocalGlobe.
May 2018SeedLocalGlobe (lead); Marchmont Ventures (lead); Alexander Chesterman$4M-Motorway raised £2.75 million in seed funding on June 5, 2018, led by LocalGlobe and Marchmont Ventures, with participation from Alexander Chesterman. The company, launched in July 2017, operates an online platform connecting private car sellers with buyers, earning commissions on completed sales. At the time, Motorway reported over 25,000 customer sales enquiries per month.
May 2017AngelChristian Woolfenden (lead); Duncan Jennings (lead); Marc Hazan (lead)$600K--

Who has invested in Motorway?

12 investors have backed Motorway across its funding rounds, including Marchmont Ventures, Index Ventures, LocalGlobe, BMW i Ventures, Unbound and Latitude Investment Management.

Lead investors include ICONIQ Capital, Index Ventures, Unbound, Marchmont Ventures, LocalGlobe and 3 other investors.


Motorway Investors

Investors in Motorway by funding rounds participated
InvestorHQRoundsRoleFirst check
Marchmont VenturesUnited KingdomGalashiels3LeadMay 2018
Index VenturesUnited KingdomLondon2LeadJun 2021
LocalGlobeUnited KingdomLondon2LeadMay 2018
Latitude Investment ManagementUnited KingdomLondon2ParticipantJun 2021
BMW i VenturesUnited StatesSan Francisco, CA2ParticipantJun 2021
UnboundUnited KingdomLondon2LeadJun 2021
ICONIQ CapitalUnited StatesSan Francisco, CA1LeadNov 2021
Duncan JenningsUnited KingdomLondon1LeadMay 2017
Marc HazanUnited StatesNew York City, NY1LeadMay 2017
Alexander ChestermanUnited KingdomLondon1ParticipantMay 2018

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Acquisitions by Motorway

Motorway has acquired 1 company to date.

Last acquisition by Motorway was on July 13th 2018. Motorway acquired Get It Gone for undisclosed valuation.


Latest Acquisitions by Motorway

Get It Gone
Description
-
HQ CountryUnited Kingdom
HQ City
-
Deal Date13 Jul 2018
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Motorway Competitors

Motorway competitors include listed companies like CarTrade Tech, Autotrader Group and carsales.com, and private ones like NoBroker, OfferUp and Zhuanzhuan.

Public and private companies comparable to Motorway
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CarTrade TechIndiaIndiaPublicly listed$81M$33M$1.5B15.6x
Autotrader GroupUnited KingdomUnited KingdomPublicly listed$838M$558M$5.2B6.4x
carsales.comAustraliaAustraliaPublicly listed$892M$475M$6.5B8.2x
NoBrokerIndiaBangalorePrivate$65M-$1B15.4x
OfferUpUnited StatesSeattle, WAPrivate--$1B-
ZhuanzhuanChinaBeijingPrivate--$1B-

Motorway Public Comps

Motorway is still privately-owned, but its public comps include SMZDM.com, QuinStreet, Grupa Pracuj, Ibotta, LegalZoom, Nextdoor, Upwork, Baltic Classifieds Group, Yelp and ATRenew.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SMZDM.com$192M$19M4.9x4.7x47.8x42.1x
QuinStreet$1.3B$61M0.7x0.7x15.8x7.9x
Grupa Pracuj$214M$95M4.6x4.4x10.3x9.7x
Ibotta$342M$7M2.5x2.4x114.9x15.3x
LegalZoom$756M$74M1.2x1.1x12.1x4.8x
Nextdoor$258M($69M)2.4x2.2x(8.8x)27.8x
Upwork$788M$180M1.0x1.1x4.6x3.6x
Baltic Classifieds Group$102M$79M11.2x10.9x14.5x14.1x

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Common questions about Motorway

When was Motorway founded?Motorway was founded in 2017.
Where is Motorway headquartered?Motorway is headquartered in London, United Kingdom.
Is Motorway publicly listed?No, Motorway is a private, VC-backed company.
What is Motorway's valuation?Motorway was last valued at $1B in its Series C in November 2021.
How much funding has Motorway raised?Motorway has raised $275M across 5 funding rounds.
What was Motorway's last funding round?Motorway's last funding round was a $190M Series C in November 2021, led by ICONIQ Capital and Index Ventures.
Who are Motorway's investors?Motorway's investors include Marchmont Ventures, Index Ventures, LocalGlobe, Latitude Investment Management, BMW i Ventures, Unbound, ICONIQ Capital, Duncan Jennings, Marc Hazan, Alexander Chesterman and 2 others.
Which companies are comparable to Motorway?Companies comparable to Motorway include CarTrade Tech, Autotrader Group, carsales.com, NoBroker, OfferUp and Zhuanzhuan.
How many companies has Motorway acquired?Motorway has acquired 1 company, including Get It Gone.

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