Lithuanian Startup Commody Raises €500,000 to Make Collectible Car Ownership Accessible to All
- austejalazaraviciu9
- Mar 28
- 4 min read
Updated: Apr 2
Commody, a Lithuanian startup introducing a new way to co-own collectible and historic cars through a digital-first platform, has raised €500,000 in pre-seed funding. Launched in 2023, the company gives car enthusiasts the opportunity to become co-owners of rare and iconic vehicles by acquiring collectible car units - without the ongoing costs or complications of traditional car collecting.
The funding round includes investments from venture capital funds Firstpick and Coinvest Capital, as well as five private investors. According to Commody’s founder, financial expert and investor Vilius Oškeliūnas, the investment will fuel further development of the platform’s core functionality and support audience growth, with an initial focus on Western Europe and Scandinavia. Over the next five years, the platform aims to reach more than 700,000 users globally.
Unlocking Access to an €800 Billion Market
The global collectible car market is estimated at around €800 billion, with annual sales reaching €40 billion. Historically, access to this world was reserved for a small number of affluent collectors.
“Collectible cars are more than just machines - they’re history on wheels, mechanical artistry, and an emotional connection across generations. Commody allows car lovers to own a part of something legendary. Just like Spotify changed how we consume music, we’re reimagining collecting. Commody brings car collecting into the digital age - with real ownership, zero logistics, and your entire collection right in your pocket,” says Oškeliūnas.
Ownership begins from just €25, enabling users to start building a dream car collection from their phone, join a passionate community, and enjoy the thrill of collecting - with zero obligations. All storage, insurance, and maintenance costs are covered by the primary owner, while users enjoy the benefits of co-ownership without the responsibility.
Using NFT technology, Commody links collectible car units to each user's ownership stake, with legal registration in the national vehicle registry. This ensures full traceability and legitimacy while keeping the experience seamless and digital.
Backed by Regional Leaders in Venture Capital
Viktorija Trimbel, Managing Director at Coinvest Capital, says:
“As someone passionate about tech innovation and cars, I found Commody’s approach to disrupting a tradition-heavy and exclusive market with NFT technology incredibly compelling. The team has a proven track record in financial markets, and we believe Commody is uniquely positioned for strong, scalable growth. That made it an easy and confident decision for our investment committee.”
Dmitrij Sosunov, Partner at Firstpick, adds:
“This innovative model is already making it possible for the broader public to access fractional ownership of real estate, fine art, and now - thanks to Commody - collectible cars. We believe the team is paving the way for millions of enthusiasts to participate in car collecting like never before.”
Curating the Future of Digital Car Collecting
Once registered, users can explore a curated selection of collectible cars, each featuring detailed descriptions, high-quality photos, documentation, ownership history, and historical valuation trends. The ability to acquire collectible car units will be introduced in the near future, supported by the platform’s ongoing development.
“We’re building a new kind of ownership experience - one that combines emotional fulfillment with long-term value. Collectors will enjoy not only access to rare vehicles but also the potential for value appreciation. Commody brings car collecting into the digital age - with real ownership, zero logistics, and your entire collection right in your pocket,” says Oškeliūnas.
“Not everyone can drive an icon, but anyone can own one,” he adds.
Commody recently introduced its first featured car - a rare 2003 Porsche 911 Turbo (996), valued at €149,000 - which quickly captured the attention of enthusiasts eager to reserve their units. As the platform evolves, Commody is actively partnering with collectors and institutions to list exclusive vehicles, ensuring a broad and high-quality offering for its growing user base.
About Commody:
Commody is part of a new generation of platforms reshaping how collectible cars are owned and enjoyed, combining legal co-ownership, blockchain technology, and low entry points to make the experience accessible to a broader community of enthusiasts. Officially registered as a private limited liability company, Commody operates under the laws and regulations of the Republic of Lithuania.
The Commody team consists of six professionals: finance expert and wealth manager Vilius Oškeliūnas, marketing strategist Gerda Oškeliūnė, Vytautas Zabulis and Gintautas Ščerbavičius, experts in blockchain tech and regulation, IT solutions expert Martynas Pranaitis, and automotive enthusiast and journalist Vitoldas Milius.
About Coinvest Capital:
Coinvest Capital is an early-stage venture capital fund established by Lithuania’s national development institution, Investicijų ir Verslo Garantijos (INVEGA). The fund invests public capital entrusted by the EU and the Republic of Lithuania - together with business angels and other VC funds - into promising startups that create long-term value for Lithuania. Since its inception, the fund and its partners have co-invested €42.4 million into 42 startups and successfully exited five investments.
Coinvest Capital offers a globally unique profit-sharing model, capping its own annual return at 4–8%, with any profits beyond this threshold allocated to accredited private co-investors. Out of its total €44.3 million in committed capital, €19.2 million remains available for new investments following this transaction.
About FIRSTPICK:
FIRSTPICK is a €20 million venture capital fund and accelerator investing in technology startups across the Baltic region. The fund supports startups working in fintech, deep tech, software-as-a-service (SaaS), and consumer–focused marketplaces. Its initial investments typically range from €50,000 to €250,000. FIRSTPICK helps its portfolio startups enter the market early, fosters strong partnerships, shares its accumulated expertise, and supports company building through its pre-acceleration and acceleration programs.
For more info, please contact:
Vilius Oškeliūnas
Commody CEO, Co-founder
+370 686 29456
Lukas Mikelaitis
co:agency
+37061262326
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