Carmoola, a UK-based fintech startup specializing in auto financing, has raised £300 million ($405 million) in funding through a private asset-backed securities (ABS) transaction. The round was conducted in partnership with NatWest Bank and investment firm Chenavari Investment Managers. According to Carmoola, the capital will support the company’s expansion and drive greater operational efficiency.
Carmoola’s platform significantly streamlines the car loan process by eliminating intermediaries. CEO Aidan Rushby emphasized that this approach makes auto financing more accessible and transparent for consumers. The new funding will effectively triple the company’s debt capacity.
Founded in 2022, Carmoola has quickly emerged as a leading player in the UK’s auto financing sector. The founding team includes Ukrainians Roman Sumnikov and Igor Gordiychuk, alongside Aidan Rushby and Amy McKechnie.
While headquartered in London, Carmoola maintains a substantial development team in Ukraine.
The startup has developed a mobile app that enables users to quickly apply for car loans, customize their payment schedules, and complete vehicle purchases online or directly at dealerships via a virtual card.
