Roadster is a company that develops an e-commerce platform to buy cars. It was founded in 2013 by Andy Moss, Elsa Kawai, Mika Kozma, Mike Lenz, Trey Matteson, and Vincent Lo. The company aims to provide a seamless car purchase experience for both dealers and buyers. It is based in San Francisco, California, United States.
Product & Service
Roadster first began by operating a car brokerage company that they previously purchased, until 2016, when they transition into a software-as-a-service company for car dealers. Roadster’s platform allows users to browse and purchase a car without having to directly meet with the car dealers beforehand. Users also have the ability to choose a trade-in option instead, allowing them to sell their previous cars before buying a new one. It is also possible for users to purchase car insurance plans, alongside adding any automobile customization. For users purchasing cars with credit, all the approvals are also done online. Users of the platform would receive the car delivery after the transaction has been finalized, with Roadster claiming a possible delivery in less than 30 minutes.
Since 2014, Roadster has managed to accumulate $26.8 million in capital from six funding rounds. The company recently held a Series B in June 2018, raising $15 million. Past investors who have funded Roadster’s enterprise were Costanoa Ventures, Trucks Venture Capital, and Aslanoba Capital.