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Successfully funded
overfunded
Glovebox Direct
112%
Raised
£338,170
Investors
206
Target
£300,000
Equity
14.78%
Pre-money valuation
£1,950,000

Operating in a £21bn UK market, of which only 5% is currently online, Glovebox Direct is an online automotive parts, accessories and merchandise marketplace. Since a successful 2017 Crowdcube raise, the company now works with a growing list of leading brands and has a growing 100k+ social following.

  • Customers sales average £45 per basket
  • Team is ex eBay, e-commerce for BMW, Nissan, and industry veterans
  • Long-tail adwords currently outperforming Amazon and eBay
  • No stock holding or shipping costs, charging a 15% commission

Idea

Glovebox Direct is an online automotive parts, accessories and merchandise marketplace, focused on offering:

1) the largest online range

2) superior ease of use, and

3) guaranteed 100% authentic product direct from the car and bike brands.

The parts and services market is a £21bn market in the UK, but less than 5% is online. With 6 years experience at eBay and after years of managing marketplace sales for BMW, Toyota, Nissan and others, we understand why consumers can struggle:

- Lack of product availability online

- Ease of use issues and the risks of buying the wrong item

- Authenticity and warranty concerns

Our highlights so far:

- Seed funded on Crowdcube in Nov 2017 to build the concept; 150% over-subscribed in 3 days (£181,670).

- Three further manufacturers now in product development. Suzuki represents c. 1.3% of the market, and with this expansion we will now target more than 8 million cars on the UK roads.

- Product now out of beta

- Customers averaging £45 per basket

- Click & fit enabled so customers buy online and can additionally book their servicing and fitting, a feature that some manufacturers don't have in their online store

- B2B development now underway; proof of concept in place with a top 20 dealer group and in discussions with 5 other brands

- With over 100,000 Facebook followers, our social media following already outperforms some vehicle manufacturers.

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Glovebox Direct

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Successfully Invested
£689m+
Registered Investors
874k+