Daimler gives lift to comparison site Carwow

Fundraising: Carwow founders James Hind, left, Alexandra Margolis and David Santoro
Fundraising: Carwow founders James Hind, left, Alexandra Margolis and David Santoro

A price comparison website that lets customers research and buy new cars from dealers around the country has raised £25m in a round led by Mercedes-Benz owner Daimler AG.

Carwow, founded as Carbuzz by James Hind, 32, a decade ago, also received funding from existing investors Balderton Capital, Accel and Vitruvian Partners.
A Daimler executive will take a seat on the Carwow board.

The site allows buyers to specify what model they want before scanning availability from a network of dealers for the best prices.

Hind started the business with his now fiancée, Alexandra Margolis, 32, and David Santoro, 35.

In 2017, the company made a loss before tax of £7.9m on sales of £15.3m.

Carwow has run into controversy during its rise. BMW initially