Rexcar is insolvent after only half a year

The car auction platform Rexcar had to file for insolvency. The start-up last had twelve employees.

After six months, Rexcar has to announce the end. Insolvency proceedings were opened at Ingolstadt Local Court on Monday. Alexander Raab was appointed insolvency administrator. The application was filed in November 2020.

Rexcar was only launched in July. The aim was to make it easier to market cars among dealers and car dealerships via a platform. The start-up promised an all-round carefree package for just under 250 euros per month. Rexcar focused on the used car market in Germany, with early plans to expand into the Czech Republic, Austria and Poland. In September, managing director Tibeau Grüßen reported to the online portal Autohaus that they had taken out 1,800 subscriptions in two months. The website has already been deleted, as has the entry in the commercial register.