Brazil’s InstaCarro startup that brokers used car sales online receives US$22.5 million

Since its inception in 2015, InstaCarro has operated exclusively in São Paulo (SP) but is expected to reach eight other large Brazilian cities by the end of this year.

RIO DE JANEIRO, BRAZIL - InstaCarro, a startup that buys and sells used cars online, is looking to capitalize on the fact that consumers are more likely to buy cars digitally and increase their investment in technology.

InstaCarro was founded in 2015 by Argentine entrepreneur Luca Cafici in the city of São Paulo with the aim of brokering the sale of used cars from private individuals to dealers throughout the country.

Using an "online auction," the startup is able to solicit offers to buy vehicles from customers within a few hours, thus obtaining good prices for the customer. For dealers . . .

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