CarPrice

About CarPrice

CarPrice, established in Moscow in 2014, operates a technology-driven online auction platform for used vehicles, connecting private sellers with professional car dealers. The company was co-founded by serial entrepreneur Oskar Hartmann and his partners, including Eduard Gurinovich, Alexander Danilov, and Sergej Thiessen. Hartmann, a German/Russian businessman with a history of creating successful e-commerce ventures like KupiVIP, conceived the idea in 2013 to adapt a business model already proven in the UK and Germany for the Russian market. Gurinovich, who served as the initial CEO, had an early start in entrepreneurship and met Hartmann after winning a competition for young entrepreneurs. Their collaboration aimed to bring greater liquidity and transparency to the used car sector.

The business model is centered on a C2B (Consumer-to-Business) framework. Private individuals can sell their cars without charge by bringing their vehicle to one of CarPrice's numerous offices for a comprehensive inspection and legal check. A detailed report is then uploaded to the proprietary online auction platform, where a network of thousands of registered professional dealers place bids in real-time. The seller receives the highest offer and can choose to accept it and receive immediate payment, or decline without obligation. CarPrice generates revenue by charging professional buyers a fee for each successful transaction and for access to the platform, which provides them with a consistent and reliable source of inventoried vehicles.

The company has demonstrated significant growth, securing approximately $42 million in funding over five rounds from investors such as Baring Vostok, Almaz Capital, and the Russian Direct Investment Fund. This capital has fueled its expansion to over 100 buying offices across more than 50 Russian cities, and it has also expanded into Kazakhstan. Key milestones include being named one of Europe's most talked-about startups by Wired magazine in 2015, launching in Japan in 2016, and introducing remote car buying in 2020. The company's leadership has evolved, with Eduard Gurinovich stepping down as CEO in 2017 to focus on new projects within the firm, and Denis Dolmatov later taking the helm, followed by Matthieu Lannegrand.