Berlin, September 18th 2023 – Cardino, an innovative Berlin-based startup, is proud to unveil its online platform aimed at transforming the way electric vehicle (EV) are bought and sold. With tech-powered features tailored to both EV sellers and car dealerships, Cardino introduces a seamless, end-to-end digital solution set to reshape European used EV remarketing. The startup raised a €1M pre-seed round led by Silence VC and FJ Labs, and with renowned international investors on board such as Asymmetric Capital Partners, DEPO Ventures, Silence VC, Voyagers.io, Inclimo, Gaingels and additional angels with industry expertise.
Cardino’s platform serves as a marketplace that connects electric vehicle sellers with dealerships through auctions, facilitating transaction process. Cardino's unique approach uses battery analysis and digital inspections for reducing risk in the transaction, real-time market data for pricing, and user-centric design to deliver a best-in-class experience to both sellers and buyers.
For EV Sellers: A Simplified Journey
Cardino's platform empowers EV owners with an effortless way to sell their vehicles. The process begins with an Instant Valuation feature, allowing sellers to receive immediate but precise estimates of their EV's value based on market data analytics. A user-friendly Vehicle Verification process follows, where customers digitally inspect their vehicles, share details about damages, and upload photos using DriveX, Cardino's trusted partner for digital inspections.
Once verified, the EV is listed in an auction where dealers compete to offer the best price. After the auction, the highest offer is presented to the seller along with a contract. Upon acceptance, a prepayment of €500 is sent to the seller, and Cardino handles the collection and full payment for minimum hassle to the other parties. Cardino prides itself on making it possible to sell an EV in just 5 days through them, against an average 27 days through classifieds listings. Moreover, sellers get above average offers through Cardino. The service is totally free for electric car owners wishing to sell it — from start to finish.
"We are passionate about electric vehicles and want to make it easier for people to buy and sell them. Our platform is the only one that offers a fully digital, end-to-end solution for selling used EVs, making it the clear choice for tech-savvy EV owners." Lukasz Pajak, COO of Cardino, emphasizes the company's commitment to providing a seamless and user-friendly platform for both sellers and buyers.
For Car Dealerships: Enhanced Sourcing and Transactions
Cardino's platform provides dealerships with a comprehensive suite of tools for sourcing and purchasing EVs. Dealers can explore an extensive range of EVs through the Inventory Browsing feature, with each car accompanied by a detailed profile containing over 20 pictures, technical specifications, condition reports, and thorough seller verification.
Dealers can bid on appealing vehicles directly through the app during auctions. Even if a specific car is not listed, Cardino assists in suggesting valuable alternatives and can tap into its network of sellers to locate the desired model. Once an auction is won, Cardino facilitates the transaction process, including sending foolproof contracts, overseeing confirmation, and even arranging logistics upon request.
Founded in December 2022, Cardino has achieved remarkable milestones, including a community of over 1,000 EV sellers and a network of 100+ car dealers. In August, Cardino facilitated nearly EUR €4 million in Gross Merchandise Value (GMV), with a monthly growth exceeding 50% since the company started. The company also attracted substantial investment, securing a €1 million pre-seed funding round led by FJ Labs, alongside other prominent VCs and angel investors.
"I am a sucker for marketplace nerds. When I first met the Cardino cofounders, I was very impressed with their deep understanding of marketplace dynamics. They reached $2M in GMV in the first few months! So now we can safely say they are not just nerds but also outstanding operators." says Borja Moreno de los Rios of Silence VC, highlighting the operational prowess of Cardino's founding team.
A Vision of Transformation and Sustainability
Cardino's founders, Henrik Sachs (CEO) and Lukasz Pajak (COO), bring a wealth of experience to the venture, having worked with McKinsey, Rocket Internet, and Delivery Hero. Their combined expertise has fueled Cardino's mission to revolutionize the used EV market — with the overarching goal of “making EV transactions as simple as a Sunday drive”.