Philadelphia, Pennsylvania – January 23, 2023 – Motobyo, the tech-driven used car marketplace designed for everyday consumers, not dealers, looks back at the past year’s successes and prepares for explosive growth in the year ahead.
Since the “beta” launch in their hometown Philadelphia market, Motobyo has gained greater brand awareness and organic customer growth with increasing usage of its online auction marketplace that connects used car sellers and buyers.
“In 2022, we completed a $2.5 million round of funding to support the launch of the business and our ongoing operations,” said Ron Averett, CEO of Motobyo. “We are particularly pleased with the traction of the business. In this brief period, we are already experiencing more than 1,200 individuals requesting our vehicle liquidation services monthly. And we made great progress building our partner relationships with national brands in auto financing, insurance, extended vehicle protection, and DMV services. Looking ahead, we see a clear roadmap for broader expansion across the Northeast.”
Providing services and products to everyday consumers that are traditionally associated with automobile dealerships, Motobyo’s national partnership network includes Firestone Complete Auto Care, Tires Plus and Wheel Works, Meineke, Midas and Your Mechanic (car inspection and service); Credible (financing); The Zebra (insurance); Acertus (titling); Carfax and AutoCheck (car history); Ekata (customer ID verification); and uShip (vehicle transport).
Motobyo has also partnered with over 30 Philadelphia-area dealers as buying centers to support its cash offer solution. Plans for 2023 include expansion beyond the Philadelphia DMA into other northeastern markets, including North Jersey, New York, Baltimore and the DC / northern Virginia metro area.