AutoVex acquired by Schibsted

Aventum advised Alltvex Oy (“AutoVex” or “Company”) and its shareholders on the sale of a majority stake (79%) of the Company to Schibsted ASA (“Schibsted”).

AutoVex is a leading used car C2B auction marketplace in Finland, with the mission to create the most efficient way to buy and sell used cars online. AutoVex has seen exceptional growth since its establishment, and to date close to 20,000 cars have been sold through the platform amounting to a total gross merchandise value of around EUR 350 million. As of Q3 this year, the company’s last twelve months (LTM) revenue grew by approx. 330% YoY. AutoVex was founded by CEO Sebastian Frick in 2018 and today the Company employs around 20 people in Helsinki.

Schibsted is an international media group listed on the Oslo Stock Exchange. Schibsted has a wide portfolio of digital brands, including e.g., online marketplaces FINN, DBA, Blocket and Oikotie, and strong position in the Nordics.

By combining forces with Schibsted, AutoVex will be able to further accelerate growth and competitiveness in the Finnish market. Both companies share the same vision for next generation marketplaces and this transaction will further strengthen Schibsted’s position in the Motor vertical.

Aventum acted as adviser to AutoVex and its owners in the transaction.