Nico Rosberg, the German-Finnish former Formula 1 champion turned sustainability entrepreneur, is making waves in the startup world through Rosberg Ventures. With a keen eye for transformative businesses, Rosberg Ventures focuses on sectors like AI, Software, Blockchain, Climate Tech, and Productivity, aiming to accelerate innovation and drive positive change globally. And Rosberg has recently backed Berlin-based startup Cardino in its mission to transform the used electric vehicle (EV) market.
Cardino announced a successful €4 million seed funding round led by Point Nine. The round also saw participation from a range of distinguished angel investors and notable figures, including key investors from platforms like Rosberg Ventures, Vinted, Bolt, HomeToGo, Dance, and HeyJobs. Cardino’s platform facilitates the sale of used electric vehicles through a digital marketplace, connecting sellers with a network of trusted dealers across Europe. The company plans to utilize the funding to further expand its consumer services, with a focus on enhancing the platform’s features and expanding its reach across Europe.
Founded in 2022, Cardino has quickly emerged as a trailblazer in the industry, offering a digital platform that simplifies the sale of used EVs. Private sellers benefit from a hassle-free experience, with an impressive 80% likelihood of receiving a binding offer within 72 hours of listing. Cardino handles all aspects of the transaction, from valuation to logistics, pick-up, and payment processing, making the process seamless for sellers.
Rosberg Ventures, founded by former Formula 1 champion Nico Rosberg, is a prominent player in the world of startup investments, particularly in transformative businesses. With a strong focus on sustainability and innovation, Rosberg Ventures seeks to support impactful global startup innovation. The firm has quickly gained traction, managing over $50 million and strategically investing in businesses across key sectors such as AI, Software, Blockchain, Climate Tech, and Productivity. Through strategic investments and partnerships, Rosberg Ventures aims to accelerate positive change and drive transformative business growth.
Rosberg, a strong advocate for sustainability in the automotive sector, expressed his excitement about Cardino’s impact, stating, “The future of cars is electric. For that, we need a sustainable used car market. Henrik, Lukasz and the entire Cardino team are doing pioneering work with their platform. Cardino is both efficient and transparent, setting new standards for the entire industry. That is why I am happy to support this mission as an investor.”
Cardino’s innovative approach has led to impressive growth, with nearly 50% quarter-over-quarter growth in Q1 of 2024 and an annualized Gross Merchandise Value (GMV) of €100 million. The company plans to expand its consumer services to France in 2024 and introduce new features to enhance the platform’s offerings.
Henrik Sachs and Lukasz Pajak, Co-Founders of Cardino, highlighted their commitment to revolutionizing the used EV marketplace, stating, “Cardino is dedicated to revolutionizing the used EV marketplace through its digital-first approach, making the process convenient and efficient for sellers and dealers,”
With Rosberg’s investment, Cardino is well-positioned to continue its journey towards transforming the used electric vehicle market, driving sustainability and innovation in the automotive sector.
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