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Autovex – the most efficient and dynamic way to buy and sell used cars online

For the first time, you can digitally reach all car dealerships and get your car sold quickly, easily and at the best price. For car dealerships, Autovex is a purchasing tool – A next generation software – for smooth trading online. It is a fast growing start-up company, with the Founder and CEO, Sebastian Frick, and the COO, Alexander Lång, at the forefront.

 

/ In a nutshell

Founded in 2018

21 employees in Finland

Aquired by Schibstedt Media Group in December 2022

 

"I have always liked to develop new things. When I see something that needs to be improved, I start to intuitively do it and innovate something new. You must dare to throw yourself in head-first,” CEO Sebastian Frick says with a smile.

From a young age, Sebastian was doing a little bit of this and that to earn money. During his university days, he and his friends founded a company that imported and sold automotive products.

In his early twenties, Sebastian tried to buy a car online but got no response to his emails. The incident recurred several times. That is when he started wondering how much business is lost as a result of unanswered emails. Sebastian developed a test that measured the activity level of the car salesmen in response to customer leads and started offering it to car dealers. They quickly showed interest and the innovation later spawned a successful career with an automotive company for Sebastian.


"I have always liked to develop new things. When I see something that needs to be improved, I start to intuitively do it and innovate something new. You must dare to throw yourself in head-first."

/ Sebastian Frick /


 
 

How did the story of Autovex begin?

In the beginning, there is often only a business idea and an entrepreneur. This is also how the story of Autovex began. Work experience at an automotive company, general interest towards the industry, and a strong faith in his own work pushed Sebastian forward. "I trusted my idea one hundred percent from the very beginning," he says, “ and I ran the company alone for the first year and a half. The cooperation with Vencubator started with them offering of a workspace, a sounding board for ideas and occasional networking events. Early-stage companies can collaborate with Vencubator to develop an understanding of the startup environment by receiving general support and a space to really learn the in’s and out’s of entrepreneurship. They helped me with the basic structures of running a company. When you are in the early stages of a new business, Vencubator is happy to support your learning. That's why I recommend cooperation with Vencubator for such companies,” Sebastian says.

“I had a strong belief in the idea and a background in the automotive industry, which developed my understanding of the problem and which methods can be used to solve it”, Sebastian continues.

A clear vision has acted as a strong driver. Even if the service has changed a lot along the way, it has always been clear that Autovex is becoming a success story. In the beginning, there was a strong need for curiosity and boldness. Sebastian used his own savings to code the early version of the service. Later, as the business expanded and grew, the cooperation with Vencubator developed and they became involved in the company's activities also as an investor.

 

 

 

What is needed from an early-stage company?

Preparation and commitment are some of the key elements of starting a successful business. Even in early-stage companies, the wheat is separated from the chaff. For example, it is important to ask yourself whether the founder has enough will to make the business idea concrete. A pitch deck outlining the problem and how can it be solved is a must! Why is your solution the best on the market? What is the scale of the investment needed? What do you want to achieve with the investment? Vencubator is with you along the way, curious to see if a good idea can be developed into a great and successful company.

Autovex's values are transparency and honesty. The values are derived from Sebastian's own life and business principles: “Everything is much easier if you are honest and transparent in the things you do." This applies to within the team as well as to clients and investors.


The desire to win drives the business forward

In the fall of 2022, Autovex is expanding to Sweden. A clear plan plays an important role, but there must also be a readiness/an ability to change the plan when necessary. Alexander Lång, COO of Autovex, explains that “the desire to win is what drives us forward. You can never be too satisfied and you need to step up your game constantly. For me, this stems from my background in competitive sports. After a match had been won, the focus was already on the next game”.

You must believe that something can come out of your ventures, because the first years won't necessarily be easy. So, have a long-term plan and keep your eye on the ball.