NextGear Capital partners with TradeBid to provide funding from within its auction platform

  • NextGear Capital partners with TradeBid to provide funding in app
  • TradeBid is Ireland’s first digital trade marketplace
  • Customers can use their stocking plans while browsing the auction platform

Time 11:41 am, January 18, 2022

Wholesale funding specialist NextGear Capital has partnered with Ireland’s digital trade marketplace TradeBid.

This means customers can now use their NextGear Capital stocking plans while on the auction platform.

TradeBid only launched on December 14, 2021, and is the first technology driven trade marketplace in Ireland where dealers can browse, bid, pay and have vehicles delivered using the platform.

Liam Quegan, managing director of NextGear Capital, said: ‘We’re very excited to be partnering with TradeBid from the beginning of its launch.

‘This is a truly digital business that brings dealers a unique offer for stock sourcing, with the ability to inspect, buy and sell vehicles in a live real-time open bidding auction – and all digitally.

‘We have partnerships with more than 70 different auction and wholesale providers, aimed at giving dealers greater choice and flexibility over how, when and where they source stock, with simple transactions.

‘As the wholesale market continues to move towards digital-first platforms, we are delighted to partner with such an innovative business.’

Denis Hanafin, managing director at TradeBid, added: ‘It is our goal to streamline and simplify the buying and selling of pre-owned vehicles, on an end-to-end basis covering every stage from identifying stock, bidding, winning auctions and providing secure payment.

‘An important part of this is partnering with leading global technology companies both in the automotive and payment industries to create the most advanced digital trade platform in Ireland. NextGear Capital will play a key role in our success.’

Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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