The principals of Motobyo, the Horsham e-commerce company whose tech solution connects used car sellers and buyers, have ambitious plans to expand operations. To gather the necessary capital, they’re turning to crowdsourcing, according to a Ryan Mulligan story in PHL INNO.

Motobyo was a 2019 startup between George Lekas — a 30-year veteran of selling second-hand cars — and e-commerce pro Ron Averett.

The company’s app zoomed to success during COVID-19, when supply-chain sluggishness put the brakes on auto sales nationwide.

By Aug. 2022, the service has reached the ten counties surrounding Philadelphia. Its initial 1,200 users per month have nearly tripled in a year, to 3,500.

Now, Lekas and Averett seek $4 million to keep moving.

Immediate target markets include Pennsylvania in its entirety, northern New Jersey, and New York; beyond that, the pair are scoping out Baltimore; Washington, D.C.; Chicago; Dallas, Cincinnati; and Atlanta.

“As we were headed down this path to national receptivity, crowdfunding seemed a smart way to broaden exposure to the everyday person,” Averett said.

More on Motobyo and its corporate road forward is at PHL INNO.

_____

How does Motobyo work?