Bidbus Raises $15 Million for Online Car-Selling Marketplace | PYMNTS.com

Bidbus raised $15 million in a Series A round announced Tuesday, July 7, to expand its online marketplace for selling vehicles. The company said the funding supports its goal of making auto sales “as transparent and competitive” as trading stocks. Bidbus builds a platform where verified dealers bid for consumer-owned cars, aiming to deliver better offers for owners while giving dealers access to inventory that is harder to source. In an interview with TechCrunch, founders said the multi-dealer bidding model produces average offers $2,000 to $3,000 higher than what Carvana offers online. Co-founder and CEO Duke Yan described the idea after struggling to sell his mother’s car, and said the company capitalizes on the spread between online sellers’ prices and typically higher dealer payouts. The report also referenced Reuters’ view that the broader used-car market has shown resilience amid economic and policy stress.