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Carspring is a tech startup and online used car retailer operating in the United Kingdom. Launched in March 2015, the company allows customers to buy or finance used cars online.

History
The company was founded in March 2015 by two former consultants, Dr Peter Baumgart and Maximilian Vollenbroich.

It is backed by Berlin-based startup ‘incubator’ Rocket Internet. In July 2015, the company raised $3.29m in its first round of funding from a variety of investors.

Model
With an online payment process and delivery service, Carspring has adopted a similar model to US companies such as Beepi, Vroom and Carvana. And, unlike other online entrants in the UK used car market, the company holds its inventory as stock.

Reception
Startups.co.uk named the 17th most promising new online startup in the UK.

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