Barcelona-based MundiMoto, an online marketplace for buying and selling used motorbikes and scooters, has raised €20 million ($22.7 million U.S.) in a financing round. The round was led by Italy-based venture capital firm P101, with Maniv Mobility and Autotech Ventures also participating.
MundiMoto intends to use this investment to drive its expansion both domestically and in the rest of Europe, starting with Italy and the Netherlands. According to the European Association of Motorcycle Manufacturers, Spain was the fourth-largest market for sales of new motorcycles in Europe in 2020 after Germany, Italy and France.
Co-founded by Albert Fossas e Josep Talavera, Mundimoto provides a marketplace which enables users to buy and sell motorcycles via its web site Mundimoto.com. In addition, the company offers sales support services such as online valuation, safe and direct payment, pickup and transfer of ownership.
The turnover of the company has grown from €1 million in 2019 to €15 million in 2021 with a presence in Spain, Poland, and Netherlands.
Bird & Bird Spain advised P101 as lead investor lead by Stefano Guidotti in the financing round. The firm´s M&A and Venture Capital team included partner Lourdes Ayala, counsel Alberto Rodríguez San José, senior associate Antonio J. Ballesteros Matilla and associate trainee Monica Sangalli. Bird & Bird Milan advised with counsel Calogero Porrello.