Bidbus Secures $15 Million Series A Funding to Expand Live Dealer Auction Platform
Bidbus, an online automotive marketplace that connects vehicle sellers directly with licensed dealers through live auctions, has raised $15 million in a Series A funding round led by Ibex Investors. The investment will be used for market expansion, product development, dealer network growth, and enhancing technology-driven operations. Since its launch, Bidbus has served over 10,000 vehicle sellers and achieved approximately $300 million in annualized gross merchandise value (GMV). Over the past year, it experienced sevenfold growth while expanding into California and Texas. The company aims to address inefficiencies in the used car market by enabling consumers to receive competitive bids from multiple dealers rather than relying on a single trade-in offer. The funding will also support Bidbus' transition toward scalable systems of functional ownership and technology-enabled execution, including AI-powered tools for communication and workflow automation.
Topics: automotive fintech marketplace