Member Article

Darlington’s Acorn Money acquires car deal comparison site

Darlington-based finance broker Acorn Money has acquired Autoebid, a new car reverse auction site, for an undisclosed fee.

Company founder at Autoebid, Amin Saleem, sold the business, which asks a database of dealers to put in offers for the best price of new cars, to dedicate his time on a new business venture.

The acquisition strengthens Acorn Money’s portfolio in the motoring arena, placing Autoebid alongside the company’s existing MotorPocket subsidiary, a customer focussed platform that assists customers in securing vehicle finance.

Having helped customers purchase over £230m worth of new vehicles, at discount prices, Autoebid encourages suppliers to compete to offer the largest discount off RRP.

CEO of Acorn Money Chris Greener commented: “The Autoebid acquisition has opened up access to a wealth of new relationships and trust, which has been built up over the last 13 years. We’re excited to now be in a position to offer complementary services from both MotorPocket and Autoebid.”

With a solid platform already existing, Acorn’s CTO Nik Siafakas revealed that he has worked on a series of major improvements to the site layout, content and performance, since the acquisition took place last month.

Nik Siafakas said: “Autoebid’s technology was a game changer thirteen years ago, a true pioneer of the internet age. Significant improvements to the customer experience are in progress and that will benefit our existing and future users, as the improvements are rolled out.”

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