TRED Used Car Online Marketplace Secures $ 25 Million Series B
Tuesday 09 Nov 2021, 16:36
Peer-to-peer used car online marketplace TRED has secured $ 25 million in Series B funding it plans to use to expand its products, locations, partnerships and engineering team .
New and existing inventors participated in the cycle. This group included Vivek Raj of Geneses Capital Management, Ian Anderson of Westlake Financial and Mike Kraus of CMFG Ventures.
“This funding will allow TRED to invest in its products, expand its sites and services across the country and further develop its partnerships,” TRED Managing Director Grant Feek said in a press release. “TRED is revolutionizing the online used car market, and we look forward to continuing our growth and success with this important support. “
TRED is headquartered in Seattle and was launched there in 2012. Its current markets include: Los Angeles; Portland, Ore; San-Francisco; Dallas; Houston; Austin, Texas; San Antonio; Miami; Tampa Bay; Orlando; Jacksonville, Florida; and Chicago.
“Westlake Financial has been a tremendous loan partner for TRED car buyers over the past two years, and we are extremely excited to develop this relationship further,” said Feek. “We are also extremely pleased to have the support of CMFG Ventures, the venture capital arm of CUNA Mutual Group, which helps connect credit unions to the FinTech industry.
“Credit union members have historically made up a disproportionate percentage of buyers and sellers of TRED, and we look forward to further developing the product to support these members. “