EAG Group-backed Carvago completed the acquisition of InstaMotion.

EAG Group-backed Carvago, an online marketplace for buying and selling used cars, completed the acquisition of InstaMotion, a Germany-based online car dealer. Financial terms were not disclosed. “InstaMotion has a similar business model to Carvago. It uses strong relationships with leading car dealer groups and guarantees quality standards and a twelve-month warranty for the end user. Unlike Carvago, which carries out a vehicle inspection with the Car Audit service, InstaMotion relies on contractual relationships with its partners and their own automotive expertise,” Jakub Šulta, EAG Group Founder and CEO.