Spain-based MundiMoto, a digital auto retailer specializing in motorcycles, has fully commenced operations in Italy with an investment of €1.7 million ($1.9 million U.S.), newspaper El Economista reports. 

This is the Barcelona-headquartered company’s first foray outside of its domestic market. 

While MundiMoto began selling motorcycles in Italy last year, it is only now commencing purchase and reconditioning operations in this market. The company will have a local staff of 20 and operate out of a 26,000-square-metre facility in Milan. It currently employs more than 200 people in Spain.

Company founder and CEO Josep Talavera (LinkedIn profile) said that MundiMoto was planning to buy 1,500 motorcycles in Italy by the of this year. 

“We have seen that the business model in Spain has taken root and is working … and we believe that Italy is a market very similar to Spain and that there is an equal or greater opportunity.” 

“Italy is a country that is very fond of motorcycles, and the fleet is 40% larger than that of Spain. It is a country that is less digitized. We believe that there is an opportunity to penetrate a market that is more virgin than Spain.” 

Earlier this month, MundiMoto launched long-term motorcycle rentals in Spain. Late last year, it began sales of new electric mopeds in partnership with six manufacturers, including Seat, Volkswagen’s Spain-based subsidiary. However, Talavera said that these services would not initially be launched in Italy. 

MundiMoto’s operations in Italy are led by Borja Batlle. 

€700,000 of this investment was provided from Cofides (Compañía Española de Financiación del Desarrollo — Spanish Development Financing Company), which is a state-owned enterprise.

According to its website, Cofides “provides medium and long-term financing for viable private investment projects that, based on profitability criteria, contribute both to the development of the host countries and the internationalization of the economy and of Spanish companies.” 

In February 2022, MundiMoto raised €20 million ($22.0 million U.S.) in a financing round. 

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