Digital Horizon has announced that it has participated in a $6 million funding round for GO, a fast growing digital car platform. The round was led by Starting Line VC (Cameo, Substack, M1 Finance).
Car sales is the largest consumer retail segment in the US with $1.5 trillion market size, with $600bn spent on new cars annually. At the same time buying a car is still a frustrating and poor experience, especially if you want to use financing options or have flexibility in ownership. It’s a long and expensive process, whether you lease or finance, requires a lot of paperwork and visiting a car dealership and banks.
GO is a digital platform allowing consumers a cheaper and easier alternative to traditional car ownership. GO lets you order a car in 5 minutes while saving up to 25% compared to traditional vehicle finance. No down payment, no car salespeople.
GO was founded by Michael Beauchamp, a serial entrepreneur with a background in marketing, advertising and transportation industry. He has assembled a strong industry team comprised of experienced executives from fleet financing, fleet ordering, dealer operations and vehicle acquisition at companies like Hertz, Enterprise, etc. This was complemented by important expertise in operations as well as technology.
GO’s fresh round of funding will be utilised to prepare the business towards Series A in 2023.
Alan Vaksman, founding partner of Digital Horizon:
“The overall market is actively moving from the traditional offline cash or loan purchase to new ownership model and purchasing experience. This is an established paradigm in the small purchases and now we see a strong move in this direction for the big-ticket items such as cars. GO is a great platform being ahead of the curve in this space, taking the convenience and advantages of e-commerce and credit tech models to the large car market.”
About Digital Horizon:
Digital Horizon is a next generation venture capital firm headquartered in London.
Digital Horizon has substituted the traditional approach to venture capital investment for its ‘new age’ methodology, which accelerates return on investment at every stage, minimizes risk and maximizes profitability. Digital Horizon supports and empowers passionate founders, especially migratory and diverse talents, who are creating enduring and meaningful start-ups.
Digital Horizon manages multistage and co-investment funds, a digital investment platform, and a venture builder, and predominantly focuses on the fintech and enterprise software sectors. Its funds have invested in a portfolio of successful start-ups including Lemonade, Monday.com, Ably, and Bolt.
Digital Horizon was founded in 2018 by Alan Vaksman, a venture capitalist and banker with over 20 years of experience in the UK, Europe, and Africa.