Mundimoto raises $22.6 million

Mundimoto, the online marketplace for buying and selling motorcycles, has raised $22.6 million from P101, Maniv Mobility, and Autotech Ventures.

Founded in 2019, the Barcelona-based startup offers an end-to-end solution for buying and selling motorcycles and scooters. Some of the features and services include valuation, financing, shipping, change of ownership, and insurance.

Mundimoto will use the funding to expand beyond Spain starting with Italy and Holland. Last year, the startup sold 4,000 bikes.

“While much attention has been focused on automotive marketplaces, motorbikes represent a very large opportunity that has received less focused attention. Mundimoto has demonstrated impressive traction, innovation and operational excellence in tackling this overlooked vertical.” – Daniel Hoffer, managing director at Autotech Ventures.

“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, partner at Maniv Mobility.