image credit : FCG

The Frontier Car Group popularly known as FCG which is a German technology company dedicated to incubating innovation and investing in the transformation of several used car marketplace technologies around the globe has taken a huge round of funding from OLX Ventures which is in turn a subsidiary of South African based media giant Naspers.

This investment comes roughly three weeks after The Frontier Car Group announced a $58 million funding from several investors into the company, The technology company will now use these funds to greatly expand its investment into the various used car marketplaces it operates and backs in order to rapidly scale its mission and also improve revenue statistics.

This investment from OLX will also see FCG collaborate with and make use of its huge regional footprints in markets slated for huge growth opportunities to expand its own operations heavily.

FCG uses technology to promote the ease of transportation through the provision of automobile marketplaces and also financing solutions for aspiring players in the space, Users who intend to sell their mobile do so on FCG by first getting a quote and inspection from the company to assess the value of the automobile which is then purchased by FCG itself and sold for a profit through its vast dealer network which decreases the hassle of finding a buyer by the owners of the automobile and also provides a very reliable means of auto-trading by various consumers from all around the globe.

The Frontier Car Group currently operates many automobile marketplace brands which include Cars45, Ototrink, Carfirst, and VendeTuAuto amongst others.

FCG was founded just two years ago by entrepreneurs Sujay Tyle, Peter Lindholm and André Kussmann and currently operates in Nigeria, Mexico, Chile, Turkey, Pakistan, and Indonesia with a team of over 600 people based in different locations around the world.

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