Who Owns carVertical?
carVertical is owned by CV Group, a privately held Lithuanian technology company headquartered in Vilnius. The brand was founded in 2017 by Rokas Medonis, Audrius Kucinskas, Arnas Vasiliauskas, and Robertas Boravskis, and remains independent and founder-led. Medonis serves as CEO of the company, which reported EUR 75.8 million in 2025 revenue.
Parent Company
Founded
2017
Status
Private
Headquarters
Who Owns carVertical?
- Parent Company: CV Group (carVertical)
- Ownership Type: Wholly owned
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| carVertical | CV Group (carVertical) | Wholly owned |
Where to Buy
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carVertical on AmazonHistory of carVertical
- Founded: 2017
- Founders: Rokas Medonis, Audrius Kucinskas, Arnas Vasiliauskas, Robertas Boravskis
carVertical was founded in Vilnius in 2017 by Rokas Medonis, Audrius Kucinskas, Arnas Vasiliauskas, and Robertas Boravskis. The founding idea targeted a specific fraud problem: used car buyers across Europe had no reliable way to see a vehicle's true mileage, accident history, or theft record, and odometer fraud was endemic in cross-border used car trades.
The company launched in January 2018 through an initial coin offering, issuing the CV token and raising approximately EUR 16 million, one of the more notable ICO fundraises by a Baltic startup. The original whitepaper proposed storing vehicle history data on a blockchain to make records tamper-proof, and the company joined MOBI, the automotive industry's blockchain consortium.
Vehicle history reports launched first in Estonia and Lithuania in 2018, then expanded through European markets. The United States launch in 2019 made it the company's first market outside Europe, and by 2020 the service covered 23 countries while annual revenue quadrupled. The United Kingdom became the 25th market in March 2021, one of the fastest coverage build-outs among vehicle data startups of that period.
The product evolved with the coverage. What began as a static history lookup gained damage estimates, market value context, and equipment details as more data sources came online, and the 2023 rebrand refreshed a visual identity built around the yellow-and-blue mark now associated with VIN checks across its markets.
The business model settled into a simple consumer product: a customer enters a vehicle identification number, pays a per-report fee, and receives a compiled history drawn from national registries, insurance databases, law enforcement records, and classified listings. A B2B line grew alongside, selling data access to dealers, insurers, fleets, and finance companies.
Recent growth has been rapid. Revenue reached EUR 53.9 million in 2024 and EUR 75.8 million in 2025, a 40% increase, with net profit of EUR 13.2 million. The company ranked 26th on the Financial Times FT1000 list of Europe's fastest-growing companies in 2023 and 200th in 2024, and won Lithuania's LRT Business Leadership of the Year award in 2023. During 2025 it entered six new markets including Ireland, Austria, and New Zealand, passed 1,000 connected data sources, and grew headcount to more than 150 employees.
About CV Group (carVertical)
Is CV Group a public company?
No. CV Group, which operates carVertical, is a privately held Lithuanian company. It does not trade on any stock exchange and is controlled by its founding team.
Who owns carVertical?
carVertical is owned and operated by CV Group, the private company its founders established in Vilnius. Co-founders Rokas Medonis, Audrius Kucinskas, Arnas Vasiliauskas, and Robertas Boravskis built the business and remain in leadership roles, with Medonis as CEO.
How does carVertical make money?
The company sells per-report vehicle history checks to consumers and subscription or API data access to businesses. It aggregates records from more than 1,000 sources including national registries, insurers, law enforcement, and classifieds, and compiles them into per-VIN reports.
What was carVertical's revenue in 2025?
Revenue reached EUR 75.8 million in 2025, up 40% from EUR 53.9 million in 2024, with net profit of EUR 13.2 million. B2B revenue grew 83% year on year.
Did carVertical do an ICO?
Yes. In January 2018 the company raised approximately EUR 16 million through an initial coin offering of the CV token to fund the build-out of its vehicle data platform. Token buyers did not receive equity, and the company has since operated on conventional revenue.
Where is CV Group based?
The company is headquartered in Vilnius, Lithuania, where the founding team is based. Its service operates in 37 markets across Europe, North America, and Oceania.
- Founded: 2017
- Headquarters: Vilnius, Vilnius County, Lithuania
- Company Type: Privately Held
- Revenue: EUR 75.8 million (2025)
- Employees: Approximately 156
Where Is carVertical Made / Based?
- Headquarters: Vilnius, Vilnius County, Lithuania
carVertical Categories & Tags
carVertical Recalls & Controversies
Diginet litigation: carVertical was engaged in a multi-year legal dispute with Diginet LTU, the operator of competing service AutoDNA. After an earlier ruling was sent back on appeal, the Vilnius Regional Court dismissed Diginet's claims in February 2025, and the Lithuanian Court of Appeal upheld the dismissal in June 2025, ordering Diginet to reimburse CV Group for part of its legal costs.
ICO scrutiny: The 2018 initial coin offering that funded the company drew the same skepticism applied to token raises of that era, with critics questioning whether a vehicle database needed blockchain mechanics. The company has since deemphasized crypto elements of its product, and no regulatory action against it has been recorded.
Data accuracy complaints: Like all vehicle history providers, carVertical faces consumer complaints in markets where registry data is incomplete, since report quality depends on what underlying national sources hold. The company discloses that report scope varies by country and contributing sources.
carVertical Ownership: Pros & Cons
Advantages
- +Founder control allows fast product and pricing decisions without parent approval
- +Profitable, revenue-funded growth avoids dilution and investor pressure
- +Data network of 1,000-plus sources is difficult for new entrants to replicate
- +B2B expansion gives the company a second, higher-margin growth engine
- +Clear category leadership in fragmented European markets
Considerations
- -CARFAX's brand dominance and S&P Global backing limit upside in North America
- -Report quality depends on third-party national registries the company cannot control
- -Single-product concentration leaves the business exposed to the used car data niche
- -History with an ICO-era fundraise invites skepticism from some partners
- -Regulatory changes to vehicle data access in the EU could reshape the data supply
Frequently Asked Questions About carVertical
Sources & Further Reading
Competitors to carVertical
No direct competitors found in the same category. This could be because carVerticaloperates in a unique market segment or we're still building our competitor database.
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