Automotive CRM and Dealer Software platform Modera raises 740,000 euros from investors
Automotive CRM and Dealer Software platform Modera raised 740,000 euros from its current and new investors, bringing the total amount of received funding to over 3 million euros. Multiple parties were involved in this fundraising round, including Siim Vips, Raido Toonekurg, Thomas Padovani, Robin Bade, Priit Vaikmaa and Siim Viidu.
More than 30 different brands in over ten countries are currently using Modera car sales platform. In 2021, the amount of transactions carried out on the platform is set to exceed 1 billion. Thus far, over 3.5 million euros have been invested in the development of the product platform
Rapid growth is seen all over the car software industry with global volumes expected to rise from the current $16.9 billion to $60 billion by the year 2025.
Modera is planning to expand out from their already established markets in the Baltics, Ukraine and Scandinavia. The pandemic has definitely speed up the car sales digitalization process, which is well demonstrated through significant increase in demand from Modera’s clients and partners. “It was essential to raise outside funding to keep up with this demand”, says Toonekurg.
Bellone Invest was already part of the previous round and is now following up on his first investment. “We are seeing strong traction on the market and a real need for transformation in the tools used by the industry players. “That’s the reason why Modera fits perfectly in the investment portfolio of Bellone Invest, as our focus is on innovative and disruptive software solutions”, says Thomas Padovani.
Modera completes an already well furnished portfolio of software companies where Bellone invest plays both, the role of financial and strategical support”, concludes Padovani.
Via their private companies, the investors’ circle of Modera includes Siim Vips, Raido Toonekurg, Janek Prümmel, Kristjan Vaga, Robin Bade (head of the supervisory board), Siim Viidu (supervisory board member), Thomas Padovani, Priit Vaikmaa, Tõnu Soodla and Hannes Tamjärv.