The automotive e-commerce platform, which counts SoftBank as an early investor, has increased its overall funding to $350m.

ACV Auctions, a US-based automotive marketplace backed by telecommunications group SoftBank, secured $55m from investors including financial services group Fidelity Management and Research last month, Wall Street Journal has reported.

Private equity firm Durable Capital Partners led the round, which additionally included $50m of debt financing from an unnamed bank.

Founded in 2014, ACV operates an e-commerce platform for auto brokers who can sell resold cars through its online auction service. The funding will go toward expanding its market presence…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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