Bidbus raises $15 million to expand used-car dealer bidding marketplace

Bidbus has raised $15 million in Series A financing led by Ibex Investors. The startup lets multiple dealers bid on a car while the seller stays home, and it is now looking to move beyond California and Texas.

Average offers on its platform run about $2,000 to $3,000 higher than what Carvana offers, Bidbus says. Duke Yan, Bidbus’s co-founder and chief executive, said the idea grew out of years of buying and selling cars on his own and from helping his mother sell hers, when he dropped dealers into a group chat and watched them bid up the price.

That auction-like structure is meant to compress a process that normally happens one offer at a time. Dealers have only a few hours to bid once a vehicle is listed. Yan said used-car affordability is less a pure pricing problem than a market-efficiency problem: consumers lack price discovery, dealers need inventory, and good used cars are still sitting in private driveways.

In February 2026, Bidbus said it had sold more than 5,000 vehicles and reached $120 million in annualized gross merchandise value. It said many dealer partners in California were sourcing 45% to 90% of their inventory through the platform, and that cars sold through Bidbus turn in about 20 days, versus 90 days or more through traditional wholesale auctions and listing channels. Bidbus said more than 1,000 dealers compete to buy cars on its platform and that 80% of customers get more money with Bidbus.

The new round adds to a $3.3 million seed financing Bidbus raised in July 2025, also led by Mucker Capital. Alongside Ibex, the Series A included Mucker Capital, FJ Labs, Motley Fool Ventures, DataPoint Capital, Walter Ventures and Yossi Levi of Car Dealership Guy. Ibex, based in Denver, launched a $113 million early-stage mobility fund in 2022.