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Skolkovo Ventures Invests 200 Million Roubles in an Online Platform for Managing a Used Car CM.Expert

04.03.2020

Skolkovo Ventures, a platform for managing venture funds and attracting financing in technology companies, is investing 200 million roubles in the first Russian online platform for managing a used car warehouse for CM.Expert car dealerships. Attracted investments will be aimed at accelerated product development and access to new markets.

There are currently several systemic changes in the automotive market. Experts note the transformation of the structure of auto-ownership and behavioural habits: the development of car-sharing, taxi, the abandonment of cars in favour of public transport and rental housing near the office to minimise transport costs. In this regard, the demand for new cars is declining, and the need for used cars, by contrast, is increasing.

In 2019, sales of used cars in the Russian market amounted to 5.5 million units compared to 1.7 million new vehicles. Today, the share of official dealers in the segment of used cars is about 15% of the market and is growing more than 30% per annum. Experts note that the margin in the market for used cars is higher — 10–16% versus 1–3% in the segment of new cars. Used car sales are moving from the format of commercial relations between individuals to sales through Trade-In or specialised services and online platforms. In this regard, companies, including car dealers engaged in the sale of used cars across the country, have a crucial need for optimising warehouses and managing goods flows. To satisfy market demands, CM.Expert has created a system that allows you optimally manage your warehouse, combining analytical, advertising, and management support in one product — the task of CM.Expert is to capitalise and become a market leader in system solutions for secondary cars.

CM.Expert — the first online platform for professionals in the automated management of a used car warehouse based on data mining of the live market. By combining data on car sales transactions, current offers, information on the history of car ownership and operation into a single information system, CM.Expert assesses the liquidity of the car and shows how the speed of car sale changes when its price changes, checks the vehicle for several seconds using VIN (for restrictions, collateral, search and car accidents), helps to quickly set the correct price when buying a used car to sell it at a maximum profit for a minimum number of days, as well as controls any deviations from the target, which allows dealers to significantly increase warehouse turnover and increase the efficiency of inventory turnover.

Aleksei Basov, Deputy General Director-Investment Director, RVC
For an IT fund managed by Skolkovo Ventures, created with the participation of the RVC capital, this is a very successful investment for several reasons. Firstly, the used car market in Russia is becoming more professional; the share of sales through official dealerships is growing. Secondly, this segment resists crises better, and that is why it is unusual for large companies. Thirdly, we see growing demand on the side of car dealers for platform solutions in the field of warehouse logistics, since such products not only help them reduce costs, but also remove the barriers that today hinder the development of this segment. In this sense, the CM.Expert platform has high investment potential, and in the future, it will be widely in demand by the automotive market players.
Vladimir Sakovich, Skolkovo Ventures, CEO
The digitalisation of the car market, one of the “fat” consumer verticals, has deservedly been in the focus of both financial investors and strategists in the past few years. CM.Expert seems to us to be one of the most exciting investment opportunities in this segment. We believe that the experience of the project team, the right choice of a strategy for further development, as well as a favourable trend will allow us to provide an excellent return to our fund investors.
Oleg Nasonov, the founder of CM.Expert
Through Skolkovo Ventures, we gain a reliable financial partner. Attracted investments will significantly accelerate product development, as well as a move to the implementation of plans to enter new markets. CM.Expert will maintain its independence, where the main priority of the company will be the effectiveness of the business of car dealers.


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About Skolkovo Ventures Fund

Skolkovo Ventures is an investment platform created in 2017 to attract external financing, manage venture capital funds, develop and market new financial products for fast-growing technology companies. Skolkovo Ventures manages venture capital funds investing in innovative developments in the field of IT and Industry 4.0, with a total volume of over 5 billion roubles.

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