According to published reports, AutoRef.com, a site for shopping used vehicles, has raised $850,000 in seed funding. The round was led by AutoScout24, which is owned by Deutsche Telekom. T-Venture, the venture arm of Deutsche Telekom, also participated in the round alongside Innovation Works, plus local angels and other investors.

AutoRef has a network of over 5,000 dealerships nationwide that care about giving their customers great deals, building relationships and being transparent in the process. Mike Pena explains, "Dealers don't trust customers because they are hesitant to invest time into someone that may flake on a deal and customers don't trust dealers because they are afraid they will get ripped off. We bridge this gap with our service." AutoRef aims to serve both dealers and buyers by saving both parties time and frustration.

AutoRef is headquartered in Pittsburgh, PA.