Bidbus Raises $15M Series A for Used-Car Bidding Marketplace

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Bidbus, an Irvine, California startup running a marketplace where dealers bid on used cars, has raised a $15 million Series A round led by Ibex Investors. Mucker Capital, FJ Labs, Motley Fool Ventures, Data Point Capital and Walter Ventures also joined.

On the Bidbus platform, multiple dealers compete to bid on a seller’s car, which the company says produces offers roughly $2,000 to $3,000 higher than what some instant-offer buyers provide. The startup has helped sell around 10,000 cars so far and has signed dealership groups including Lithia Motors and Penske Automotive.

Bidbus will use the capital to scale its transaction platform and expand beyond its initial hubs in California and Texas toward a nationwide rollout across regional dealership networks.