Auto1 Co-founders and Co-CEOs Christian Bertermann (left) and Hakan Koç (right). Photo credit: Auto1

Auto1, Germany’s biggest online used car marketplace, is currently ramping up operations for a public listing, as first reported [paywall] by Bloomberg. According to Bloomberg, the company is currently inviting investment banks to pitch for a role in its targeted public listing. A listing on the Frankfurt Stock Exchange, the world’s 10th largest stock exchange by market capitalization, is being considered.

Auto1 was last valued at about 2.9 billion euros ($3.4 billion) when the SoftBank Vision Fund invested in the company in 2018. Altogether, the Berlin-based company has raised $1.4 billion in funding since its inception. Apart from SoftBank, other notable investors in the company include the likes of Citigroup, JP Morgan, G Squared, DN Capital, and Farallon Capital Management.