Home Business NewsBusiness Tootle receives seven-figure investment from Channel 4’s Commercial Growth Investment Fund

Tootle receives seven-figure investment from Channel 4’s Commercial Growth Investment Fund

18th Jan 18 10:02 am

Here’s what you need to know

Today, Tootle announces a seven-figure investment from Channel 4’s Commercial Growth Fund, striking an airtime-for-equity arrangement with the car-selling platform. As part of the investment, Tootle will be able to launch the television advertising campaign in return for the broadcaster taking a minority equity stake.

The news comes after Tootle recently closed a Series A £2.5m investment round led by Hambro Perks, bringing the total amount raised for Tootle to £4.3m. Launched in 2016, Tootle offers a wholly revolutionary platform for people to sell used cars completely free of charge. Tootle’s national network of dealers bid to buy cars without associated auction and indemnity fees, while the consumer achieves a price from a professional dealer that is generally greater than any online car buying service. The website is completely free to use when advertising and selling a vehicle, there are no hidden fees or catches. All vehicles undergo an automated provenance check by Experian. Overall, the service prides itself in being safe, secure and honest, working only with professional, quality checked buyers.

Launched in 2015, Channel 4’s Commercial Growth Fund offers high growth potential brands that do not currently advertise on TV at scale, the opportunity to accelerate their growth through TV promotion. The fund has already made eight equity partnerships including recruitment app Jobtoday, digital newsstand Readly and the e-commerce mattress in a box, Eve Sleep plc.

This major new TV advertising campaign for Tootle will launch on the 18th January across Channel 4’s linear channel network. Designed and created by Toast TV Ltd, the core creative showcases the key features of the car-selling service.

Gordon Tulloch CEO of Tootle says, “This is a fantastic opportunity for Tootle to reach millions of consumers through Channel 4 Sales’ broadcasting stations such as Channel 4, E4, BT Sport and Dave where the Tootle service gets visibility nationally helping both the car selling consumer and the buying dealer. We look forward to working with such a progressive company as Channel 4 and are delighted they have partnered with us.”

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