Mundimoto, a motorbike purchase and rental platform, closes a EUR 21.1 million financing round led by Orilla Asset Management, the fund of Francisco Riberas, president of Gestamp, and Endeavor, the international business community that became part of the company’s shareholder base through this round. International entities such as Autotech Ventures, a global mobility fund, P101, an Italian venture capital with an international focus, and Mutua Madrileña, a Spanish insurer, participated in the deal. All have renewed their commitment to the company during this new phase in which Mundimoto aims to become the largest motorbike rental operator in Europe.
In detail, the round includes EUR 8.1 million in equity and EUR 13 million in bank loans from Santander Consumer Finance, Banco Sabadell and La Caixa. The debt will mainly be used to finance the increase in rental cars.
Pepe Talavera, founder and CEO of Mundimoto, stated in a note: ‘We are particularly happy to have successfully closed a transaction of this calibre, which confirms the confidence of investors in Mundimoto’s development prospects. Having the trust of investors and international funds is the result of an enormous amount of work by an outstanding team. We have gone through some very intense years and today, with tangible results like this round, the energy and motivation is renewed with which we will continue to dedicate ourselves to the success of a project of this magnitude.
The company will allocate the funds raised to further strengthen the rental business, which has proven to be one of the verticals with the highest growth potential since its implementation.
The capital raised will also be used to expand Mundimoto’s activities in Italy, one of the largest motorbike markets in Europe, with more than 300,000 new motorbikes registered each year and a second-hand market of about twice that number.
The dynamism and size of the market is one of the reasons why Mundimoto started its international expansion from Italy, where it has quickly established itself as the leading platform for buying, selling and renting motorbikes, with an estimated turnover in Italy by 2025 of 30 million euro.
Stefano Guidotti, partner at P101 (pictured), comments: ‘P101 invested in Mundimoto in 2022 and since then has worked alongside the company for its international expansion, starting with its entry into the Italian market. In less than three years, Mundimoto has achieved remarkable milestones, establishing itself as a leading platform also in Italy, and this new investment underlines our confidence in the further development of the company. We look forward to working alongside Mundimoto’s outstanding team also in this new phase during which the new capital will support its sustained and sustainable growth to consolidate its position as a European market leader”.
This new financial transaction is the latest development for the company, which has experienced exponential growth since its inception. Founded in 2019 and operational since 2020, Mundimoto has managed to attract major investors from the outset who have supported its business model and project. Talavera, who heads the company, has closed several deals similar to the one announced today, such as the €20m 2022 round that involved investors such as P101, Autotech Ventures and Maniv Mobility.
The next such operation was completed in 2023 and saw the entry of investors of the calibre of Mutua Madrileña, Orilla Asset Management (Francisco Riberas) and former Inditex CEO Pablo Isla into Mundimoto’s capital. This was a €10 million equity round, which was particularly strategic for the company, having brought in professionals with deep experience in both the mobility sector such as Mutua Madrileña and Francisco Riberas, and in entrepreneurship such as Pablo Isla.
Significant shareholders in the company include OK Ventures, the venture capital division of OK Group led by Othman Ktiri, and Pablo Fernández, founder and CEO of Clidrive and co-founder of Clicars, an automotive trading company acquired by Stellantis Group in 2022. Fernández has been an investor and advisor to Mundimoto since its early days and is currently a member of its board of directors.
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