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CarNext appoints Sophie Krishnan as Chief Executive Officer to drive growth as an independent business

Amsterdam, July 15, 2021 – CarNext, one of Europe’s leading online B2C and B2B used car marketplaces, today announced it has appointed Sophie Krishnan as Chief Executive Officer to accelerate growth and scale the business.

Sophie has extensive experience in rapidly scaling and accelerating growth in digital businesses, both consumer-facing and B2B. She joins CarNext from Expedia, Trainline and most recently WorldRemit, the fast-growing digital payments business where she was Chief Operating Officer.

Operating in the exciting €400bn European used car market, CarNext has ambitious growth plans and will focus on broadening the selection of vehicles it provides to customers, boosting its growth to help customers get great cars hassle free, and expanding its offering across Europe. Last week, CarNext announced that it had been carved out from LeasePlan into a fully independent business and raised €400 million from a consortium of leading investors to supercharge the next phase of its growth.

Since its launch in 2018, CarNext has grown exponentially to become one of the largest retailers of used cars in Europe. In 2020, CarNext sold 40,000 cars direct to consumers and 200,000 cars via its digital B2B auction platform and trader app across Europe. CarNext’s B2B operations are present in 22 countries, while its B2C marketplace is already present in seven of the largest European markets.

Sophie Krishnan, Chief Executive Office of CarNext, said:

“I am excited to be joining CarNext at such an important inflection in its journey. CarNext is one of the first companies to digitize and transform the way consumers and professional buyers purchase a used car online and it is becoming a leading scale-up in Europe. With the CarNext team and TDR’s backing, we will continue to create an amazing experience for customers to find the car they want and be delighted with it. My immediate focus is on accelerating growth.”

Thibaut Large, Partner at TDR, said:

“Sophie’s extensive expertise in scaling digital businesses, her drive and her focus on what matters most for customers are a great match for CarNext’s growth ambitions. She brings deep experience from scale ups in Europe and the US and has both a strong operational background and a strategic view. CarNext is in an ideal position to disrupt the €400bn European used car market by leading its digital transformation. With Sophie joining the team, the business is poised to turbo-charge its leadership in Europe.”

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Notes to editors

Sophie Krishnan (French national) is CEO of CarNext and joined in July 2021. She is responsible for the company strategy and scaling the business across Europe, with a dedicated focus on creating an amazing experience for our customers.

She joins CarNext with an extensive experience in accelerating the growth of digital businesses across Europe and the US. Prior to CarNext, she was Chief Operating Officer at WorldRemit, where she was responsible for the business’ P&L, its growth and operations. Before that, she was at Trainline and Expedia where she held executive roles across product, marketing and growth.

She spent the first part of her career in the Bay area, New York and in Europe with Bain & company, a consulting firm and with Investor AB, an investment company.

Sophie received her MBA from Stanford Graduate School of Business. She is on the Board of Avanti Acquisition Corp, a SPAC listed on NYSE.

When she is not working with the CarNext team, Sophie enjoys spending time with her two children, running or skiing. She has taken a few sabbaticals during her career to work for a non-profit in Latin America, learn meditation in Nepal and re-architect a house ‘from foundations to roof’.

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