FCP Euro: Online Auto Parts Retailer Company Raises $25 Million
Summary
Connecticut-based online auto parts retailer FCP Euro has completed a Series A financing round totaling $25 million. The minority investment will expand the companys footprint across new geographies, bolstering its commitment to delivering unparalleled quality European car parts to a broader audience.A prominent private investor led the Series A funding round. And the funding round underscores confidence in FCP Euros vision and leadership as the worlds most trusted resource for European vehicle ownership, maintenance, and repair.The growing automotive aftermarket is projected to reach $477 billion by 2024, and FCP Euro has achieved a 30% CAGR over the past decade and is expected to surpass $200 million in sales by 2023. And FCP Euro will continue to focus on expanding its product offering and physical footprint to enhance brand awareness and speed of delivery.This funding not only propels us into our next phase of growth but stands as a testament to the hard work and dedication of our workforce, which is now over 240 strong. We are enthusiastic about our new partnership and eagerly anticipate the collaborative endeavors ahead.Scott and I are excited to continue leading what we started over 20 years ago.