PitchBob Launch Pad
InspectWise®: Transforming the Used Car Industry

InspectWise®: Transforming the Used Car Industry

Innovating Used Car Transactions with Advanced Tech

Share this Article

Project representative: Tomi Rantanen

InspectWise® — a Finland-based startup with an innovative vision to transform the used car industry. The company was born out of a personal encounter with a car scam, which led the founder on a mission to ensure transparency and security in used vehicle transactions worldwide.

InspectWise® uses advanced technology, including AI and blockchain, to address two significant issues for potential car buyers: unclear vehicle history and concerns about fraud. They provide solutions through an app for damage detection and ID verification. Independent inspectors, available on a gig basis, assess vehicles at the seller’s location, enhancing transparency and confidence for buyers.

Both private consumers planning on purchasing second-hand vehicles can take advantage of these services. They order an inspection online while their reliable network of inspectors leverage their proprietary application to analyze each car under consideration comprehensively.

We have been in existence for four years. During this time, we have processed nearly 24,000 applications. We are currently in the MVP stage, which reflects the growing trust of consumers in this brand. Additionally, we have a strong foundation: we have 350 freelance inspectors. This is another testament to the rapidly increasing popularity in the automotive market, including an impressive annual revenue, which currently stands at 300,000 euros.

From a market perspective, its strategic growth potential goes beyond revolutionizing the second-hand dealing space. It also seeks to redirect attention toward safety awareness within international consumer communities, addressing the estimated annual losses of USD 60-80 billion due to scams and crime rates.

Competitor firms may possess more significant capital reserves or offer focused services such as elaborate historical records. However, they often lack the holistic approach that InspectWise® promises through comprehensive solutions integrating multiple features into one platform, making the process more efficient and secure for users.

The path ahead appears promising, supported by progressive plans that include recruiting talented team members, particularly those with expertise in tech, UI/UX development, and marketing. These experts will aid in expanding our outreach across the European region. This investment is expected to unlock new potentials and amplify value returns while doubling our access to Business Finland loan opportunities at the advantageous 1% interest rates.

InspectWise® strives to become a potential unicorn in the global startup scene. Their transformative vision, robust technology, and customer-centric offerings set the stage for this journey. Buyers worldwide can anticipate added layers of security and transparency when purchasing used vehicles, promising a hassle-free process.

Share this Article
Create your pitch deck and get TechCrunch-style AI Generated article with a backlink to your website and Linkedin.
PitchBob.io - AI pitch deck generator & startup co-pilot | Product Hunt