AutoVex acquired by Schibsted

Avance advises the sellers in a sale of a majority stake in AutoVex, a leading used car consumer-to-business (C2B) online auction marketplace in Finland, to Schibsted. AutoVex was founded in 2018 by Sebastian Frick and to date close to 20,000 cars have been sold through the platform amounting to a total gross merchandise value of around EUR 350 million. As of Q3 this year, last twelve months’ (LTM) revenue of AutoVex grew by approx. 330% YoY.