Istanbul-based VavaCars, a used cars online trading platform, has raised $37 million in its Series C round of funding.

The recent financing round received support from Vitol as well as a mixture of previous and recent investors.

VavaCars intends to allocate money raised from the funding round towards consolidating its market position in Turkey.

More so, the company, launched in April 2019, has generated in excess of $500 million in revenue in the first half of 2022.