Carmoola
Carmoola is a UK FCA-authorized fintech that offers direct-to-consumer used-car finance (HP, PCP, refinance) through a mobile app, distributed via a network of 9,780 UK Trusted Dealerships and underwritten using Open Banking and credit bureau data.
- Company typePrivate
- Founded2021
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Carmoola does
Carmoola distributes finance through a network of 9,780 Trusted Dealerships across the UK and supplements origination with a beta Sell My Car blind-bidding service operated through subsidiary Moola Asset Management Limited. Revenue is generated primarily from interest income on the loan book, with a secondary per-transaction fee of £399 plus VAT charged to dealers on Sell My Car completions. The company has raised over £540 million in combined equity and debt capacity, anchored by NatWest (multiple debt facilities), QED Investors, VentureFriends, InMotion Ventures (Jaguar Land Rover), AlleyCorp, and u.ventures, with a £300 million private ABS facility closed in June 2025 alongside Chenavari Investment Managers. Carmoola has received 590,000+ customer applications, holds a 4.8/5 Trustpilot rating, and operates with a lean sub-100-person team split between London (headquarters) and a Kyiv engineering presence.
Carmoola firmographics
Firmographics- Name
- Carmoola
- Legal name
- Carmoola Limited
- Website
- https://carmoola.co.uk
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Carmoola is a UK FCA-authorized fintech that offers direct-to-consumer used-car finance (HP, PCP, refinance) through a mobile app, distributed via a network of 9,780 UK Trusted Dealerships and underwritten using Open Banking and credit bureau data.
- Ownership category
- akta.pro rank
Carmoola industry classification
Industry- Product category
- Consumer Auto Finance
- NAICS
- Sales Financing (52222)
- SIC
- Finance Lessors (6172)
- akta.pro primary industry
- New & Used Auto Purchase Loans (FSAKADAA)
- akta.pro secondary industries
- Leasing & Lease Buyout Financing (FSAKADAC), Auto & Vehicle Leasing (Personal Use) (FSAKANAA)
Keywords
Where Carmoola is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Carmoola business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Car Finance Interest: Revenue generated from interest charges on Hire Purchase (HP) and Personal Contract Purchase (PCP) car finance agreements. Customers borrow money to finance vehicles and repay with interest over an agreed term.
- Dealership Transaction Fees: Carmoola charges dealerships a fixed transaction fee of £399 plus VAT for each completed vehicle purchase through the Sell My Car service
- Green/EV Discounts: The company offers green discounts for electric vehicles as incentives, potentially creating differentiation and market positioning value
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Hire Purchase (HP) - Spread cost of car over time with ownership at end |
| Other | Monthly | Personal Contract Purchase (PCP) - Flexible option to hand back, own outright, or trade in |
| Other | Monthly | Car Refinance |
| Transaction based/ take rate | Pay-as-you-go | Sell My Car Dealership Fee |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels12 records
Carmoola product offering
Product offeringCore offering
Carmoola provides digital, direct-to-consumer car finance in the UK through a mobile app, offering Hire Purchase (HP) and Personal Contract Purchase (PCP) agreements, plus car refinance, with a 60-second soft-search budget approval, paperless application, and virtual card payments via Apple Pay and Google Pay at any dealership. Distribution is supported by a 9,780-dealership Trusted Dealership network and ancillary services such as free vehicle history checks, car valuations, and a "Sell My Car" dealer-matching service.
Product overview
Carmoola is a digital-first, direct-to-consumer car finance platform offering a unified product ecosystem centered on its mobile app. The core offering comprises two main financing products: Hire Purchase (HP) for straightforward vehicle ownership through installment payments, and Personal Contract Purchase (PCP) for flexible end-of-term options (return, own, or trade-in). These are supported by car refinance services. The platform provides an integrated suite of tools including a car finance calculator, early settlement calculator, eligibility checker, car search, free valuation, and a beta Sell My Car service connecting sellers with a trusted dealership network. Additional features include an AI Chat Assistant for automated support, depreciation index, and promotional offerings like free warranty and retail vouchers. The app serves as the central hub enabling budget approval in 60 seconds, virtual card management for dealership payments via Apple Pay/Google Pay, and unlimited free car history checks.
Differentiator
Problem solved
Functional benefit
Products and services
- Hire Purchase (HP)
Quantifiable outcome
- 590,000+ customers have applied for Carmoola financing
- +2 more outcomes
Companies that use Carmoola
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles2 records
Carmoola technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability7 records
Feature5 records
Carmoola partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- CarFinance247 LimitedminorCredit broker partner that Carmoola shares customer data with when a customer's application is unsuccessful, to explore alternative finance options from their panel of lenders.
- Zuto LimitedminorCredit broker partner that Carmoola shares customer data with when a customer's application is unsuccessful, to explore alternative finance options from their panel of lenders.
- Warrantywise UK LimitedminorWarrantywise administers and provides the free vehicle warranty and breakdown cover that Carmoola offers as a promotional incentive to selected customers. Warrantywise is based at 3 Trident Way, Trident Park, Blackburn, Lancashire, BB1 3NU.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
Carmoola competitors and assessment
Company assessmentDirect peers
- MotoNovo Finance: One of the UK's largest specialist motor finance providers offering HP and PCP through dealer partnerships. Comparable product offering and dealer-led distribution model.
- Startline Motor Finance: UK specialist motor finance provider offering hire purchase and PCP products through dealer networks. Direct competitor with similar distribution model and product suite.
- CarMoney: UK car finance specialist offering used car financing directly to consumers through a digital platform. Closely aligned direct-to-consumer model with multi-lender marketplace approach.
- Moneybarn: UK specialist vehicle finance lender focusing on used car and motorbike finance for non-prime borrowers. Comparable business model of extending consumer credit directly for vehicle purchases with multi-product structures.
- Zuto: UK car finance credit broker with a similar digital direct-to-consumer value proposition and dealer network model. Direct competitor and also a data-sharing partner for declined applications.
- CarFinance 247: UK-based car finance credit broker operating a similar digital, multi-lender marketplace model. Direct competitor and an actual data-sharing partner to Carmoola for declined applications, making it the most directly comparable peer.
- Hippo Motor Finance: UK specialist motor finance provider offering consumer car finance products through broker and dealer channels. Directly comparable in product structure and target customer segment.
Broad incumbents
- Black Horse (Lloyds Banking Group): Lloyds Banking Group's specialist motor finance division and one of the largest UK vehicle finance providers. Established incumbent offering HP, PCP, and dealer financing with significantly greater scale and lower cost of funds.
- Volkswagen Financial Services: Captive finance arm of Volkswagen Group in the UK. Provides HP, PCP, and leasing across VW, Audi, Skoda, and SEAT dealer networks. Established incumbent with substantially larger balance sheet and lower funding costs.
Others
- Auto Trader: UK's largest automotive marketplace where Carmoola's 9,780 trusted dealerships list inventory. Not a direct competitor but an enabling ecosystem participant whose relationship dynamics affect Carmoola's dealer channel access.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Carmoola social profiles
Digital presenceCarmoola compliance and trust
Trust signalCompliance3 records
Carmoola financial estimates
Financial estimateRevenue estimate
Valuation estimate
Carmoola leadership team
Management profileNumber of profiles
Profiles6 records
Carmoola subsidiaries and ownership
Company hierarchySubsidiaries3 records
Carmoola funding detail
Funding detailFunding overview
Funding rounds8 records
Investors15 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Carmoola M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Carmoola
What does Carmoola do?
Carmoola provides digital, direct-to-consumer car finance in the UK through a mobile app, offering Hire Purchase (HP) and Personal Contract Purchase (PCP) agreements, plus car refinance, with a 60-second soft-search budget approval, paperless application, and virtual card payments via Apple Pay and Google Pay at any dealership. Distribution is supported by a 9,780-dealership Trusted Dealership network and ancillary services such as free vehicle history checks, car valuations, and a "Sell My Car" dealer-matching service.
Is Carmoola a public or private company?
Carmoola is a private company. It is classified as venture growth investor backed and is currently operating.
When was Carmoola founded?
Carmoola was founded in 2021. It employs 11 to 50 people.
Where is Carmoola based?
Carmoola is headquartered in London, United Kingdom, in the Europe region.
How does Carmoola make money?
Three revenue lines are on record. Car Finance Interest is the primary driver. The others are dealership Transaction Fees and green/EV Discounts.
Who are Carmoola's main competitors?
Direct peers on record are MotoNovo Finance, Startline Motor Finance, CarMoney, Moneybarn, Zuto, CarFinance 247 and Hippo Motor Finance. Broad incumbents are Black Horse (Lloyds Banking Group) and Volkswagen Financial Services. Auto Trader is listed as an others.
Does Carmoola have an API?
No public API is recorded for Carmoola.
What industry is Carmoola in?
Carmoola's product category is Consumer Auto Finance. Its primary akta.pro industry code is FSAKADAA, New & Used Auto Purchase Loans, with a secondary code of FSAKADAC, Leasing & Lease Buyout Financing. Its NAICS code is 52222 and its SIC code is 6172.