Carwow has achieved a 17th-placed ranking in the Sunday Times Hiscox Tech Track 100 list of Britain’s top 100 private technology, media and telecoms companies with the fastest-growing sales.

The company was placed in the top 20 following a 147% rise in sales over the past three years as it expanded into Germany, France and Spain - making it the highest-placed motoring industry representative on the list.

Launched in 2010, the carwow online sales platform attracts 2.4million visitorsevery month and has facilitated car sales of more than £2 billion of vehicles.

The business has been strongly backed by investors, with £48million in funding from the likes of Vitruvian, Balderton Capital and Accel enabling it to scale rapidly and hire strategicallyfrom within the motoring industry.

Carwow’s chief executive and founder, James Hind (pictured), said: “Carwow is the future of the motoring industry - using tech and data to provide a customer experience that fits perfectly with the way people live today.

“Also, the customer insights we get from our millions of monthly visitors means we can empower dealerships and manufacturers with information on a level they’ve never had before. This not only gives the dealerships in our network an advantage, but benefits the wider industry too.

“That’s why it is especially pleasing to see our success recognised in the Tech Track 100.

"We will always be a technology business first and foremost and continue to bring that expertise to the motoring industry.”

The Tech Track 100 is sponsored by Hiscox, Barclays, BDO, BGF and N+1 Singer, and compiled by Fast Track, the Oxford-based research and networking events firm.