Balderton 
- Portfolio News
- 25 April, 2025
OLX Group (OLX), Prosus’ classifieds business, announced today its intention to increase its ownership in online car marketplace Frontier Car Group (FCG), becoming the company’s largest shareholder.
Balderton first invested in Berlin-based Frontier Car Group in 2016 at Seed stage. We went on to lead the company’s Series A in late 2016, and followed on in the $41M Series B round in 2018.
In the three years since our first investment, the company’s co-founders Sujay, Peter and Andre [Sujay Tyle, Peter Lindholm, Andre Kussman] have built a formidable business, now in 400 locations in ten countries on every continent.
We all send many congratulations to the FCG team on reaching this milestone, and we all look forward to observing the next phase of their growth.
Read Balderton Partner Daniel Waterhouse’s Medium post about our investment in Frontier Car Group here.
FCG has nearly tripled performance across every key metric since the first OLX Group investment less than 18 months ago and has expanded to four new countries in that time. This is a testament to FCG’s team, the ripe market opportunity, and the results of early integration with OLX in our key markets. Together with OLX and Prosus, we are aiming to revolutionize the used car market in several emerging and developed economies by adding trust, transparency and a comprehensive suite of services to all participants in the ecosystem.
Sujay Tyle Co-founder and CEO, Frontier Car Group
When we first met the founding team in Berlin in 2016, we all recognized their passionate vision for the opportunity in emerging markets and the powerful impact bringing venture capital to those markets could offer. Co-founders Sujay, Peter and Andre [Sujay Tyle, Peter Lindholm, Andre Kussman] then went on to execute on that vision with remarkable energy and focus, building a powerful technology platform to fuel the business, and growing the company from a standing start to $700m worth of cars sold/year, and over 1,700 employees in 400 locations on every continent, in just three years. We’re truly excited for their future with OLX.
