Spain-based Momovem, a platform for individuals to rent out their motorcycles by the day, has opened a physical store in Madrid that will also serve as its new headquarters, according to the company’s LinkedIn post. As a result, it is now operating a phygital model that hybridizes digital and physical retail.

Founded in 2017 by CEO David Berbel (LinkedIn profile) and chief marketing officer Pablo Carceller (LinkedIn profile) in the city of Castellón in the eastern province of Valencia, Momovem also offers long-term rentals of new motorcycles (by the month). This makes it a director competitor to Barcelona-based MundiMoto, which sells both reconditioned motorcycles and new electric motorcycles.

Discussing Momovem’s core business of short-term peer-to-peer rentals, Carceller told website El Español earlier this year that “We were clear that the service we provided would have to be covered by an insurance company, but we were close to giving up. Others had already tried it before us and couldn’t launch their businesses precisely because of the insurance issue.” 

“We take out basic third-party insurance, and we insure it [the motorcycle] for the owner, so they don’t have to worry about anything.”

Source: LinkedIn

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