GLy New Mobility Fund has taken a minority stake in online marketplace carwow. The Hong Kong-based private equity fund is backed by Chinese automotive giant Geely, which owns brands such as Volvo, Polestar, and LEVC.
One of the key focus points for the new investment will be to support how carwow works with OEMs and new brands as they launch in Europe and move to online sales.
We welcome GLy Capital’s New Mobility Fund as shareholders to carwow and look forward to exploring relevant opportunities for carwow via their network.
James Hind, founder and CEO of carwow
Funds from the investment will be used to boost development of carwow technology and platform expansion, as well as helping drive user growth.
carwow’s leading position as an online marketplace is built upon engaging content and value creation for its community of followers. We are excited to be part of carwow’s journey and support its continued expansion.
Hrvoje Krkalo, CEO of GLy Capital
