Used vehicle e-commerce platform Shift has collected another $40m for a series D round that is backed by Lithia Motors, BMW and Alliance Ventures.
US-based after-sale automotive services provider Shift Technologies has added $40m to a series D round featuring car dealership operator Lithia Motors that now stands at more than $180m, TechCrunch has reported.
The additional funding came from new participants that are primarily large institutional investors, according to Shift. Lithia Motors invested $54m to lead the first tranche in September 2018, which consisted of more than $140m in equity and debt financing.
Alliance Ventures, the corporate venturing fund formed by carmakers…
