Automotive Online Sales Platform Digital Motors Expands into Canada

·3 min read

Digital Motors completed $10 million Series A to finance future growth

Digital Motors®, the groundbreaking online sales platform for automotive dealerships and manufacturers, today announced its expansion into Canada. The company is financing its international expansions with the proceeds of a $10 million Series A funding round led by DN Capital based in London, Berlin, and San Francisco.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210309005118/en/

(Photo: Business Wire)

Digital Motors’ dealer-based platform allows customers to go through all or portions of the entire automotive-purchasing process, including securing financing, online without stepping into the dealership. It turns any dealer’s or manufacturer’s website into an online store.

"Dealerships and auto makers alike need fully transactional online stores and marketplaces," said Andreas Hinrichs, Chief Executive Officer of Digital Motors. "Customers who configure their vehicle purchase online drive to bottom line profitability, while also being much happier with the buying experience."

After successfully launching its platform in 2020, the company expanded its footprint across the U.S. and introduced an array of new features, such as sharing deals via social media and individual customer virtual garages, which let them arrange and compare multiple transaction scenarios side by side. Instantly approved lease and finance offers eliminate any ambiguity from the purchasing process for all parties involved.

"Digital Motors’ highly configurable SaaS platform can unlock massive scalability at attractive unit economics," stated Steve Schlenker, Managing Partner of DN Capital. "The company is well-positioned as a key enabler given the automotive industry’s global trend towards digitalization and online sales."

DN Capital is joined by several other high-profile investors, including Autotech Ventures and Jaguar Land Rover’s InMotion Ventures.

Digital Motors operates a software-as-a-service (SaaS) business model that enables automotive clients to get set up 24 hours or less. The platform is configurable to the dealerships’ business rules and adheres to any manufacturer’s corporate identity and MAAP rules. For more information or a product demo, visit digitalmotors.com.

About DN Capital

DN Capital is a global early-stage venture firm, founded in 2000 and based in London, Berlin and San Francisco. DN Capital focuses on Seed, Series A and select Series B opportunities in Europe and North America in four technology verticals: Software, Fintech, Marketplaces, and Consumer Internet. DN Capital’s experience in the automotive space includes leading the Series A investment in Auto1, which completed an IPO on the Frankfurt stock exchange for €7.9 billion earlier in 2021.

Website: www.dncapital.com

About Digital Motors

Digital Motors Corporation is an automotive retail and financial technology (FinTech) platform providing complete online sales solutions to the automotive industry. Based in Irvine, Calif., the company’s revolutionary technology serves the growing needs of dealerships, dealer groups, auto lenders, and vehicle manufacturers to provide a secure end-to-end online purchasing and financing journey to their customers. For more information or to request a demo, visit digitalmotors.com.

Website: digitalmotors.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210309005118/en/

Contacts

Media Contact
Mike Geylin
+1 (201) 341-1099
mike.geylin@digitalmotors.com

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Language1.6. Limitations1.7. Stakeholders2. Research Methodology2.1. Research Process2.1.1. Define: Research Objective2.1.2. Determine: Research Design2.1.3. Prepare: Research Instrument2.1.4. Collect: Data Source2.1.5. Analyze: Data Interpretation2.1.6. Formulate: Data Verification2.1.7. Publish: Research Report2.1.8. Repeat: Report Update2.2. Research Execution2.2.1. Initiation: Research Process2.2.2. Planning: Develop Research Plan2.2.3. Execution: Conduct Research2.2.4. Verification: Finding & Analysis2.2.5. Publication: Research Report2.3. Research Outcome3. Executive Summary3.1. Introduction3.2. Market Outlook3.3. Distribution Mode Outlook3.4. Form Outlook3.5. Application Outlook3.6. Source Outlook3.7. Geography Outlook3.8. Competitor Outlook4. Market Overview4.1. Introduction4.2. Cumulative Impact of COVID-195. Market Insights5.1. Market Dynamics5.1.1. Drivers5.1.1.1. Increased social acceptance of cannabis and cannabis infused products globally5.1.1.2. Increasing use in treatment of the patients diagnosed with neurological disorders and other chronic diseases5.1.1.3. Legalised supply of quality-controlled CBD oil for sale5.1.1.4. Increasing demand of cannabis-infused foods and beverages5.1.1.5. Legalized production of cannabis in North America5.1.1.6. Import and export of cannabis or cannabis products for medical and scientific purposes5.1.1.7. In-house cultivation cannabis5.1.2. Restraints5.1.2.1. Poor guidance and inaccurate dosing resulting in dangerous consequences5.1.2.2. Product developers need to be constantly on their toes5.1.2.3. Use, distribution, possessing, and selling cannabis oil subject to varying international laws5.1.3. Opportunities5.1.3.1. New product development related to cannabis-infused foods and beverages5.1.3.2. Pharmaceutical companies and beverage companies eyeing the cannabis industry5.1.4. Challenges5.1.4.1. Heavy taxes imposed on cannabis industry discourages commercialaization5.2. Porters Five Forces Analysis5.2.1. Threat of New Entrants5.2.2. Threat of Substitutes5.2.3. Bargaining Power of Customers5.2.4. Bargaining Power of Suppliers5.2.5. Industry Rivalry6. Global Cannabinoid Hemp Oil Market, By Form6.1. Introduction6.2. Concentrated Oil6.3. Cream6.4. Food Additive6.5. Inhaled Liquids6.6. Supplement Capsule6.7. Tincture Spray7. Global Cannabinoid Hemp Oil Market, By Source7.1. Introduction7.2. Inorganic7.3. Organic8. Global Cannabinoid Hemp Oil Market, By Distribution Mode8.1. Introduction8.2. Offline Mode8.3. Online Mode9. Global Cannabinoid Hemp Oil Market, By Application9.1. Introduction9.2. Cosmetics & Personal Care9.3. Food & Beverage9.4. Medical & Pharmaceuticals9.5. Pet Care10. Americas Cannabinoid Hemp Oil Market10.1. Introduction10.2. Argentina10.3. Brazil10.4. Canada10.5. Mexico10.6. United States11. Asia-Pacific Cannabinoid Hemp Oil Market11.1. Introduction11.2. Australia11.3. China11.4. India11.5. Indonesia11.6. Japan11.7. Malaysia11.8. Philippines11.9. South Korea11.10. Thailand12. Europe, Middle East & Africa Cannabinoid Hemp Oil Market12.1. Introduction12.2. France12.3. Germany12.4. Italy12.5. Netherlands12.6. Qatar12.7. Russia12.8. Saudi Arabia12.9. South Africa12.10. Spain12.11. United Arab Emirates12.12. United Kingdom13. Competitive Landscape13.1. FPNV Positioning Matrix13.1.1. Quadrants13.1.2. Business Strategy13.1.3. Product Satisfaction13.2. Market Ranking Analysis13.3. Market Share Analysis13.4. Competitor SWOT Analysis13.5. Competitive Scenario13.5.1. Merger & Acquisition13.5.2. Agreement, Collaboration, & Partnership13.5.3. New Product Launch & Enhancement13.5.4. Investment & Funding13.5.5. Award, Recognition, & Expansion14. Company Usability Profiles14.1. Aphria, Inc.14.2. Canopy Growth Corporation14.3. CBD Health Solutions, LLC.14.4. CV Sciences, Inc.14.5. CW Hemp14.6. Elixinol LLC14.7. Endoca14.8. Folium Biosciences14.9. Freedom Leaf Inc.14.10. Green Roads of Florida, LLC14.11. Isodiol International, Inc.14.12. Kazmira LLC14.13. Medical Marijuana, Inc.14.14. NuLeaf Naturals LLC14.15. Pharmahemp15. AppendixFor more information about this report visit https://www.researchandmarkets.com/r/sqi51w CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900