Multi-million pound boost for motor start-up

Multi-million pound boost for motor start-up

An online car sales company launched in Bradford less than two years ago has received a multi-million pound boost as it looks to double its headcount.

The Car Buying Group, which was founded in 2014, has received a multi-million pound investment package from The Greenhous Group today (29 Feb) as it looks to accelerate its ambitious growth plans.

The business, which currently has 85 drop off locations across the UK and a national collection service, will double its workforce in the next six months and again in the following year creating a large number of jobs in the Yorkshire area and beyond. 

The investment will also enable the firm to rapidly increase its presence and vehicle purchases. In addition, it will drive the desire to expand its overall offering in other aspects of its business, looking to treble turnover in year one and again in year two.

Speaking on the investment, CEO Tom Marley said: “It is an exciting time for us as we share a vision to grow the brand - we are like-minded individuals and it was clear from the first meeting that we clicked.

“Their experience in the motor industry is fantastic and I believe we can learn so much working together.”

As one of the UK’s fastest growing online car buying services, The Car Buying Group has enjoyed strong growth over the last two years with turnover in excess of £20m per year.