Carwow identified as one of the UK’s fastest-growing tech companies
April 20, 2023 by carwow staff
Car changing is a big deal
- E2E Tech 100 recognises key players across the UK tech industry
- Carwow achieves 62 in top 100 rankings alongside Lyst and UNiDays.
- Car marketplace reaches milestone of £1billion-worth of used sales since acquiring Wizzle
20 April 2023, London: Carwow, the UK’s leading online car buying and selling marketplace, has been recognised for its rapid growth over the past two years, securing 62nd place in the 2023 E2E Tech 100, which identifies innovators and changemakers across the entire British tech industry.
News of Carwow’s inclusion coincides with another significant benchmark of the company’s performance – this month it exceeded £1billion-worth of total used car sales since acquiring the used-car buying platform, Wizzle, in June 2021. This acquisition contributed to a 45% increase in offers made by retailers for carwow’s used stock during 2022 compared to the previous year.
In the first quarter of 2023, 1.25 million cars were configured on the carwow platform, and its YouTube channel has consolidated its status as one of the world’s most popular automotive channels, with eight million subscribers and over three billion views.
James Hind, CEO of Carwow says: “To be recognised alongside so many extraordinary tech entrepreneurs in the top Tech 100 is really exciting. The companies in this list operate in a whole range of innovative sectors, with completely different business types and models. carwow’s inclusion is testament to the work we’ve done over the last few years, to build tech-enabled products that give consumers and car dealers a better car buying and selling experience. ”
The E2E 100 runs in association with The Independent and in partnership with IWG plc. The E2E Tech 100, which was independently verified by data from Experian and Go Live Data, celebrates the UK’s fastest-growing tech companies according to their revenues over the past two years, along with a minimum annual turnover of £10 million.
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Notes to editors
About Carwow
Founded in 2010, carwow exists to give everyone car-confidence. With 1.5 million monthly users, we are the go-to destination for buying or selling a car. carwow sits uniquely in between customers, automotive brands and car dealers. Because we don’t hold any stock, we don’t mind which car consumers buy or sell, we’re here to help them make the right choice for them.
Since its launch, Carwow has:
- Raised $157m from some of the most prestigious technology, marketplace and automotive investors, including Balderton Capital, Accel, Vitruvian Partners, Episode and Samos
- ‘Sell My Car’ service where consumers can easily list their cars at a great price, while letting dealers buy used-car stock directly from the platform
- Become one of the most influential names in consumer car media with the biggest automotive channel on YouTube with +8million subscribers fronted by Mat Watson, reaching 1 billion+ Youtube view in 2022
- Created an award-winning service that customers love, with a 4.6* rating on Trustpilot from over 35,000 reviews
- Opened offices in the UK, Germany, Spain and Portugal with a combined team of 320 people
About E2E
Founded in 2011, by Shalini Khemka CBE, E2E is an exciting and thriving powerhouse of ground-breaking entrepreneurs, investors, non-execs and SME focussed corporate organisations.
Its entrepreneurial ecosystem provides access to finance, non-execs and high-quality corporate services.
E2E’s current community consists of 24,000 SMEs who contribute £230bn in turnover to the UK economy and employ 1.15 million people.