Marketplace for used EVs: Aampere raises €1.6 million

A German start-up, Aampere was founded with the goal of promoting the used electric car market and removing any potential pitfalls – not only for customers, but also the dealers active on its digital platform. Currently, over a hundred electric vehicles change hands every month via the digital marketplace – and this number is growing.

Since expanding into Austria in August, the relatively young company has now announced that the start-up has raised a total of €1.6 million in its latest round of financing. According to its own statement, the money will help make Aampere the leading sales platform for used electric cars. Aampere is aiming to tap into further markets in Europe, for example, with the team naming the Benelux countries as targets in addition to the Scandinavian countries.

The largest contribution comes from early-stage investor Trind Ventures. According to Aampere, the company specialises primarily in fast-growing digital platforms. The start-up also names Gimic Ventures as a significant investor.

Both private vehicle owners and professional dealers can sell their electric cars to a Europe-wide dealer network via Aampere’s platform. Anyone wishing to sell their electric car enters the relevant vehicle data online and receives a price quote within two days. An algorithm uses several factors to evaluate the vehicle. These include the condition of the car, the mileage, and the current market demand for the respective model.

The vehicle is then offered at a dealer auction, and the seller receives the highest non-binding bid for review. If they agree to it, Aampere takes care of the purchase contract. The start-up from the northern Black Forest handles all the formalities, including payment processing. The deregistered and fully charged electric car is picked up within a week. The business model is basically similar to that of wirkaufendeinauto.de. However, with its clear focus on purely electric vehicles, Aampere sets itself apart from other online platforms.

“Our platform is the antithesis of paperwork, downtime, and lack of transparency. We automate resale, making electric mobility accessible and economically attractive for everyone across Europe,” says Florian Reister, founder and CEO of the start-up.

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This article was originally published by Elias Holdenried for electrive’s German edition.