Greece-based digital retailer of used cars SpotAWheel has entered Romania to challenge incumbents backed by Prosus, Intact Media Group and RussMedia.
According to online publication Profit, SpotAWheel entered the Romanian market in line with its “aggressive expansion plan” for Europe. By 2025, it is aiming to be present in five more countries across the continent.
Founded in 2016 as a spin-off of used-car inspection service SpotMechanic.gr, SpotAWheel sells pre-inspected used cars to customers. It offers both immediate purchase and 30-day sale options to private sellers.
The Athens-headquartered auto vertical also operates in Poland, Greece and Germany.
The Profit reported SpotAWheel had recorded average annual growth of 184% during the last three years, while the Financial Times ranked it 39th in its listing of the 1,000 fastest-growing companies in Europe. The company has raised $22 million in five funding rounds, according to Crunchbase.