Munich-based e-mobility startup Aampere has successfully secured €4.2 million in a late seed funding round to fuel its European expansion. The round was led by existing investor Trind Ventures, with notable participation from new investors including Vend Marketplaces ASA and G-FUND. This capital injection will be used to scale the company's fully digital resale platform for used electric vehicles, addressing a critical need in the rapidly growing e-mobility sector.
Addressing a Fragmented Market
While the adoption of new electric cars is accelerating, the secondary market for used EVs remains inefficient and fragmented across Europe. Sellers often face slow, outdated processes with opaque procedures and siloed national solutions that hinder cross-border transactions. This inefficiency creates a significant bottleneck that could slow the overall transition to electric mobility for the mass market.
A Fully Digital Transaction Model
Aampere is tackling this challenge with a fully digital, pan-European platform designed to simplify the entire resale process. The system utilizes a self-learning pricing algorithm and a digital condition check to provide a seamless experience for sellers. Through a continent-wide dealer auction, both private and commercial sellers receive a binding purchase offer within just 48 hours.
Once a seller accepts the offer, Aampere manages the entire transaction, transferring payment before the vehicle is even collected. This comprehensive service handles everything from valuation to logistics, establishing what CEO Florian Reister calls the necessary "infrastructure for this secondary market." The platform ensures used electric cars can quickly and reliably find the right buyer anywhere in Europe.
Impressive Growth and Investor Confidence
The company's rapid progress has been a key factor in attracting investment, with its valuation now reportedly exceeding €20 million. Aampere has quadrupled its revenue over the past year, selling several thousand electric vehicles annually and expanding its team to over 25 employees. This strong performance demonstrates significant market traction and a scalable business model that resonates with consumers and dealers.
The funding round reflects strong confidence from both new and existing backers, including a significant follow-on investment from GIMIC Ventures. Taavi Lepmets, Partner at lead investor Trind Ventures, praised the founders for their "exceptional" delivery and 4x growth. The addition of Vend Marketplaces, the group behind leading Nordic marketplaces, brings significant strategic experience to support Aampere's journey.
Strategic Expansion Plans
With the fresh capital, Aampere plans to aggressively scale both sides of its platform to solidify its market position. For sellers, the company will open new acquisition channels and forge partnerships to increase the volume of vehicles on its platform. On the buyer side, the focus will be on expanding its dealer network and entering new European markets.
This €4.2 million funding round marks a significant milestone for Aampere, validating its innovative approach to a complex market challenge. By providing a streamlined, transparent, and pan-European solution, the company is removing key barriers in the used EV ecosystem. With strong financial backing and strategic partnerships, Aampere is well-positioned to drive the next phase of growth in sustainable mobility.