Mundimoto and BBVA Spark reach 6 million euro financing agreement
Mundimoto, Europe’s premier online motorcycle sales platform, has secured a significant financing agreement with BBVA Spark, a key financial partner for high-impact enterprises and a leading figure in the entrepreneurial landscape. The deal, valued at 6 million euros, benefits from the support of the European Union and the European Investment Fund under the InvestEU Fund program.
“We are extremely pleased with the agreement reached with BBVA, one of the leading financial entities not only in Spain but also globally. It is a testament to the trust they have once again placed in us. This agreement highlights our company’s trajectory and underscores the confidence that financial and venture capital entities have in our business model and management approach,” Josep Talavera, co-founder and CEO of Mundimoto, said.
“With this agreement, we accompany Mundimoto in boosting its leadership in the rest of Europe,” Verónica Ruiz, head of BBVA Spark in Spain, added.
2023, a year of expansion and growth for Mundimoto
The current year is proving to be one of the most significant in Mundimoto’s history, as the company has already announced many milestones, propelling it to European leadership.
In addition to the new financing line recently established with BBVA, Mundimoto announced a few months ago the successful closure of a financing round valued at 10 million euros. This significant operation not only underscores the importance of the agreed-upon sum but also signifies the entry of two strategic partners, namely Mutua Madrileña and Francisco Riberas, into the company’s shareholding.
Another significant milestone of this year has been the inauguration of Mundimoto’s inaugural delegation in Europe, a venture that has demonstrated resounding success and is currently operating at maximum capacity. In preparation for the launch of Mundimoto in Italy, the company announced a strategic investment of 1.7 million euros last April, with a singular objective: to establish industry leadership within the transalpine nation. To facilitate this ambitious goal, Europe’s largest online motorcycle sales platform has established expansive facilities covering 26,000m2, supported by a seasoned team possessing extensive expertise and unwavering dedication to the company’s mission.
These accomplishments complement the company’s track record of success, including strategic agreements forged with renowned international brands such as Yamaha and NMoto, securing exclusive distributorship of their vehicles. This robust performance has been instrumental in driving Mundimoto’s consistent revenue growth year after year, culminating in an impressive 60 million euros by the close of 2022.
