Gurgaon-based Droom has launched C2B (consumer to business) marketplace format, called QuickSell, which will enable consumers to sell their used vehicles to auto dealers with a quick turnaround of the transaction. The sellers can upload a quick listing of their vehicles, receive offers from interesting buyers and accept the most feasible option to sell it online. With this new marketplace format, the platform now offers C2C, B2C and C2B format.
“Nearly 25 percent of the used vehicles sold in India are transitionary sales where a consumer decides to sell to an auto dealer for convenience, distress or emergency. With announcing QuickSell we are taking our services to the next level and emerging as a one stop solution provider. Being India’s first C2B marketplace, QuickSell will intelligently support the consumers and guide through the transactions,” says Sandeep Aggarwal, Founder and CEO, Droom.
How it works
Customers can activate their QuickSell listing by paying a flat fee of Rs 199 and then upload details such as model, year, trim/ variant, location, intended period to sell, a short description and photographs of the vehicle.
The platform’s pricing engine will also give pricing suggestions to the customers based on the details input. Once activated by a customer, the listing will be visible to all used car dealers in the platform’s network. These dealers, called pro-sellers, can then give a quotation to the customer, who can choose to either accept or reject the request based on the feasibility. Once a bid is accepted, the dealer would have to make a guarantee payment to confirm the transaction, which would then close the offer to any other dealer.
Sandeep adds that QuickSell ensures that sellers looking to dispose off their automobiles in a hurry get an adequate recompense for their vehicles while also delivering an efficient resolution to their selling requirements. It is his earnest endeavour to provide utmost convenience to our existing and prospective consumers.
Founded in April 2014 in Silicon Valley, Droom claims that the platform has more than 11, 000 B2C sellers, 16, 000+ products, 6000+ listings and over USD 100 million in listed GMV.
In July this year, it raised $16 million (Rs 100 crore) Series A funding led by Lightbox. The first round of funding for Droom was led by BEENOS. The 95 member team of Droom is distributed between the offices in Gurgaon(India) and Silicon Valley (USA). It's a mobile-first marketplace with a presence on three platforms — Android, iOS and desktop.
The automobile market in India is worth USD 125 billion which makes it the third largest industry in the world. There's an increasing demand for used cars spanning two wheelers to luxury cars. According to consultancy and market research firm Frost & Sullivan — last year close to 2.5 million new cars were sold in India while used cars amassed three million sales during the same period.