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. 

Founded in 2019 by Alberto Fossas Garcia (LinkedIn profile) and Josep Talavera (LinkedIn profile), Mundimoto brought in €15 million in sales in 2021. The company is also backed by Clicars co-founder Pablo Fernández Alvarez.

Talavera, who serves as CEO, commented, “15% of our sales are already international, and it is crucial for the company to be able to dedicate more resources to our expansion.”

Mundimoto provides a one-stop service for both buyers and sellers of motorcycles. It purchases an average of 1,000 motorcycles per month and has a team dedicated to reconditioning them. It then delivers them to the purchaser’s door, in addition to offering financing and insurance services. 

“The company simplifies a highly fragmented two-wheeler retail market characterized by tiny dealerships with limited inventory, huge pricing variance, poor customer journey, poor ancillary services like financing and insurance, limited warranty options and P2P classifieds portals that are difficult to navigate and offer buyers limited options of uncertain provenance,” Nate Jaret, a partner at New York- and Israel-based venture capital firm Maniv Mobility, told Techcrunch.

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