Connecticut-based online auto parts retailer FCP Euro has completed a Series A financing round totaling $25 million. The minority investment will expand the company’s footprint across new geographies, bolstering its commitment to delivering unparalleled quality European car parts to a broader audience.
A prominent private investor led the Series A funding round. And the funding round underscores confidence in FCP Euro’s vision and leadership as the world’s most trusted resource for European vehicle ownership, maintenance, and repair.
The growing automotive aftermarket is projected to reach $477 billion by 2024, and FCP Euro has achieved a 30% CAGR over the past decade and is expected to surpass $200 million in sales by 2023. And they have earned a spot on the prestigious Inc. 5000 fastest-growing privately held companies list 11 times.
FCO Euro attributes its success with over 1.2 million customers to a curated product offering across 10 European car lines, combined with a heavy focus on a digital community through its 290,000 YouTube subscribers and 63 million views since inception. And FCP Euro will continue to focus on expanding its product offering and physical footprint to enhance brand awareness and speed of delivery.
KEY QUOTES:
“This funding not only propels us into our next phase of growth but stands as a testament to the hard work and dedication of our workforce, which is now over 240 strong. We are enthusiastic about our new partnership and eagerly anticipate the collaborative endeavors ahead.”
— Scott Drozd, CEO of FCP Euro
“Scott and I are excited to continue leading what we started over 20 years ago. Our commitment to putting the customer and employee first will always remain, and this expansion is one more example of how we will drive value for our customers.”
— Nick Bauer, FCP Euro’s President
