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Zobito partners with 83 North to secure funding of the expansion of MotorK

In co-operation with 83North, the Zobito team supported Italian-based MotorK in raising $10 million in Series A funding. Magnus Linde, Managing Partner at Zobito has also become a Member of the MotorK Advisory Board. In this role he can help the company ensure they stay ahead of the curve within the disruptive and rapidly evolving automotive industry.

The new capital will be used to enter new European markets. MotorK has already expanded from Italy to Spain, U.K., France and Germany and, according to management, has been experiencing triple-digit growth year on year.

MotorK was founded in 2010 with a driving ambition: to revolutionize the creation, management and conversion of leads in the automotive sector by the power of Digital. In 2015 and 2016 we were recognised in the prestigious Deloitte Technology Fast500 EMEA ranking.

The company’s products and services aim to help the automotive supply chain sell more auto vehicles, from helping dealers build an online presence to offering a better car buying experience to consumers.

“Our comprehensive end-to-end approach looks after the sales cycle of a car. We’re now servicing 90 per cent of European car brands and over 100,000 dealers,” says CEO Marco Marlia.

Amongst its offerings are DriveK, a new European car marketplace that could be considered a competitor to existing platforms such as Carwow, and a SaaS platform for car dealers called DealerK. The company also runs Internet Motors, which claims to be the largest digital automotive event network in the EMEA region.

Lindhe said, “The automotive industry is ripe for disruption and MotorK has proven over the past few years of operation that they have the skills and know-how to do that globally. We’re delighted to assist them on their journey and look forward to the continuing positive impact they are creating on the industry as a whole.”