The Swedish online service GarantiBil is a tool for making safe car deals. Having started in 2012 this startup has come a long way in two years. In the first quarter they have had over 277 000 visitors and sold more than 100 cars. CEO of GarantiBil, Patrick Juthberg, has with his team developed a fairly simple yet seemingly useful service for a specific customer problem.
In the first quarter they have had over 277 000 visitors and sold more than 100 cars
A large number of Swedish people are involved in car deals every year, and the company estimates an annual market size of about 80 MSEK. However, a lot of these deals leaves a bittersweet taste after the deals have been done. Second-hand car transactions can be very complicated and as you know, many of us are not comfortable with bargaining (especially Swedes!). Here is where GarantiBil wants to shine. The service provides a foolproof solution for making the second- hand car market safer and easier.
Here is where GarantiBil wants to shine. The service provides a foolproof solution for making the second- hand car market safer and easier
The solution is based on partnerships with car inspectors, insurance companies and guarantee companies. The first step is to let car inspector test the object. Then the car value is estimated and the car is fully insured with a two-year used car warranty. Only then, after these processes are completed, is the car put up for online auction on www.garantibil.se. This way GarantiBil offers improved security in the transactions, lowering the risk of being scammed.
With strong achievements so far GarantiBil wants to continue the progress and expand in Europe, holding a leading position in the country by the coming year. We will see.