TRP Capital Partners teams up with CarLotz to support its national expansion plan. The investment represents the fourth deal in TRP Capital's fourth fund. TRP is excited to be partnering with CarLotz and to support its continued growth.
CarLotz is a used vehicle dealership group which utilizes a vehicle consignment model, primarily serving the sale-by-owner and corporate fleet vehicle market.
“Over the last few years, CarLotz has grown significantly, including the opening of new store locations in both Charlotte and Greensboro, North Carolina, expanding our geographic presence outside of Virginia. The investment from TRP will allow CarLotz to quickly open new locations in key geographic areas and become a true nationwide service provider to our commercial remarketing clients. We are thrilled for this next step in our Company’s growth.”
-Michael Bor, CarLotz Co-Founder and CEO
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