SoftBank Vision Fund has acquired a sizeable stake in automotive e-commerce platform Auto1, its first Germany-based investment.
SoftBank Vision Fund, the venture capital fund formed by telecommunications and internet group SoftBank, invested €460m ($565m) in Germany-based online used vehicle marketplace Auto1 Group today at a $3.56bn valuation.
Half of the investment went into newly issued shares, Auto1 said in a statement, but it did not disclose the identity of the selling shareholders.
Founded in 2012 and originally known as PKW1, Auto1 operates a used vehicle e-commerce platform that is open to both professional dealers and individual sellers…
