Instamotor

Instamotor operates a marketplace for buying and selling used cars, with an emphasis on private-party (owner-to-owner) transactions. Its free mobile app lets buyers search listings using filters, save favorites, receive recommendations based on prior searches and favorited vehicles, and message the other party inside the app.

The company positions itself around reducing the information asymmetry between car sellers and buyers. Vehicles listed on the marketplace are pre-screened, and listings include a vehicle history report, a recall check, and a fraud and safety review. Instamotor states that it rejects cars that do not meet its standards, monitors the marketplace to remove bad actors, blocks spam, and provides customer service to both sides of a transaction. The app also withholds participants' phone numbers and addresses as a privacy measure.

Business model

Instamotor runs a two-sided online marketplace connecting private used-car sellers with buyers, layering screening, vehicle history and safety verification, messaging and customer support on top of the listings, with stated plans to add further products and services relevant to car buyers.

Latest developments

Instamotor announced $1.77 million in debt financing that brought in American Family Insurance as a strategic investor, with the company saying it would continue building trust and transparency features and add products and services for car buyers.