Barcelona-based Stark Future, a company that specialises in Performance Electric Motorcycles and Technology, announced on Wednesday, June 28, that it has signed a €20M loan agreement with Banco Santander.
The funding will enable Stark Future to scale up its production capabilities, streamline manufacturing processes, and bolster research and development efforts related to the Stark VARG.
Santander is a commercial bank, supporting corporate and institutional clients by offering tailored services and value-added wholesale products.
By leveraging Santander’s resources and knowledge, Stark Future aims to solidify its position as a frontrunner in sustainable transportation. It also aims to accelerate Premium Electric Motorcycle adoption globally.
“We are thrilled to announce our partnership with Banco Santander, a prestigious global financial institution, to address our working capital requirements,” states Anton Wass, CEO of Stark Future.
“This loan agreement will provide us with the necessary resources to expand our production capacity and successfully achieve our global expansion goals,” adds Wass.
Stark Future: Building the most powerful motocross bike
Founded in 2019, Stark Future has Swedish roots but with headquarters in Barcelona. At present, the company is developing the first model of an ambitious catalogue of next-generation electric motorcycles called Stark VARG.
According to the company, the Stark VARG is the most powerful motocross bike on the planet and the performance leader within its category.
Stark VARG was built to prove that electric technology is superior to gas, offering a compelling solution to CO2 and plastic pollution.
The investor
Founded in 1857, Banco Santander is a commercial institution. It has a presence in 10 core markets in Europe, North America and South America.
In 2023, Banco Santander had €1.2T in total funds, 161 million customers, 9,000 branches, and 210,000 employees.
Ignacio Yllera Alfaro, executive director Growth Debt at Santander, says, “We are honoured to be part of this journey, as it represents a step closer to our green finance targets. Stark Future is bringing sustainability to the motorcycle industry and the fully electric, high-performance motorbike, the VARG will take the sport to the next level.”
Read the orginal article: https://siliconcanals.com/news/startups/barcelona-stark-future-bags-20m/
