The SoftBank-backed automotive e-commerce company secured convertible note financing in a round co-led by Farallon Capital Management and Baupost Group.
Auto1 Group, a Germany-based online car dealer backed by telecommunications and internet group SoftBank’s Vision Fund, has completed a €255m ($300m) convertible note round.
Investment firm Farallon Capital Management and hedge fund Baupost Group co-led the round, which also featured unnamed existing shareholders.
Formerly known as PKW1, Auto1 operates several e-commerce brands including Auto1.com and Autohero that facilitate purchases and sales of vehicles between private and corporate customers.
The company said it increased revenue by more than 20% to about…
