BERLIN - CarNext is being established as a standalone business and has raised 400 million euros ($476 million) from its investors to pursue growth in Europe, the online used-car marketplace said on Tuesday.

CarNext is being carved out of LeasePlan, a Dutch company that manages a fleet of 1.8 million cars in 30 countries. It has struck a long-term agreement with LeasePlan to guarantee the supply of 300,000 cars a year.

"With the support of our investors, CarNext is now in an even stronger position to accelerate its growth strategy across Europe, boost retail sales and achieve network effects," said Maarten van Neerven, managing director and CFO of CarNext.

"The timing could not be better. Post-COVID, more people than ever want to buy their next used car online, and we have the cars and technology to deliver.”

Europe's used-car market is rapidly moving online, helping German dealer AUTO1 to make a splashy recent stock market debut, while Britain's Cazoo plans to float by merging with a U.S. listed shell company.

In addition to the dealers, online marketplaces such as Autoscout24 or Mobile.de offer venues for the trade and consumers to buy and sell. The viability of both models, say analysts, depends on their access to product.

CarNext, founded in 2018, is owned by a consortium comprising TDR Capital, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), GIC, PGGM, ATP and Goldman Sachs Asset Management.

Last year, it sold 40,000 cars on its consumer-facing platform and a further 200,000 vehicles via its business-to-business auction platform and trader app, representing a gross merchandise value of 2.5 billion euros.

($1 = 0.8412 euros)

(Reporting by Douglas Busvine; editing by Jason Neely) ((douglas.busvine@tr.com; +49 30 220 133 562;))