Mundimoto, the largest motorcycle marketplace in Europe, has closed a financing round of €10 million. The operation was participated by Mutua Madrileña and Orilla Asset Management, the investment company of the direct family of Francisco Riberas, as well as with the follow-on of the current partners of the company.
The fresh capital will allow the company to continue with its growth plan, consolidate its position in the Italian market, and continue offering new products and services such as vehicle leasing and subscription or the launching of the first marketplace for spare parts and second-hand parts.
Josep Talavera, co-founder and CEO of Mundimoto, pointed out that “this operation has allowed us to bring strategic partners into the company, such as Mutua Madrileña and Orilla Asset Management, which allows us to boost our growth definitively and consolidates us as one of the main players in the sector at a European level.”
The current period has been a year of special relevance for Mundimoto, as for the first time in its history it has started its internationalization with the launch of its platform in Italy. With the opening of its first subsidiary outside Spain, the company expects to be in a leading position in the Italian market within the next 24 months.
Víctor Zambrana, Deputy General Manager of Seguros y Nuevos Negocios of Mutua Madrileña, says: “Grupo Mutua thus takes another step forward in its growth strategy in the field of mobility and in our objective to offer comprehensive services in this segment, which is one of the key projects of our 2021-2023 Strategic Plan.”
In addition to internationalization, Mundimoto has also expanded its vehicle catalog, selling new electric motorcycles for the first time. In this case, the company has incorporated more than 20 models from the main electric motorcycle brands.
“2023 has been a year of special relevance for the company as we are taking the definitive step to consolidate our leadership position, not only at the Spanish level, but also at the continental level. The best evidence of this is the opening of a new market such as Italy and the excellent prospects in terms of turnover that we expect to close the year with,” says Talavera.
Created in 2019, Mundimoto has become the largest online motorcycle buying and selling platform in Europe. Located in Barcelona, Madrid, and Milan, Mundimoto has 250 employees. By 2023, the company expects to exceed 25,000 vehicles sold and consolidate its leading position in Europe.
Another important new feature of the company has been the incorporation of a subscription service for individuals and companies. This service allows users to have access to Mundimoto’s entire catalog, which includes more than 2,500 vehicles (new, second-hand, combustion and electric motorcycles) and to select the format that best suits their needs.
The continuous expansion of services offered by Mundimoto has led the company to close 2022 with a turnover of 60 million euros, which means having quadrupled the results of the previous year. The company’s revenue has been boosted by the large increase in sales figures both in Spain and in Europe. Looking ahead to the current year, the company expects to exceed the 2022 figure.
Read the orginal article: https://www.eu-startups.com/2023/06/barcelona-based-mundimoto-secures-e10-million-to-consolidate-as-europes-largest-online-marketplace-for-motorcycles/
