Funding

[Funding alert] Madrid-based Car subscription service REVEL Raises €115 million in Funding

Sep 25, 2023 | By Startup Rise EU

REVEL, a Spanish company specializing in digital car subscription services, has secured €115 million in funding. In addition to other parties, the transaction was carried out in cooperation with Santander Consumer Finance and credit funds and accounts managed by KKR.
Team Revel

REVEL, a Spanish company specializing in digital car subscription services, has secured €115 million in funding. In addition to other parties, the transaction was carried out in cooperation with Santander Consumer Finance and credit funds and accounts managed by KKR.

The organization will be able to speed up its growth in the months to come and keep improving its technological foundation thanks to this financing round, which involves a €15 million investment in capital as well as the creation of a debt finance structure of up to €100 million together with KKR.

Read also - [Funding alert] Japanese VC NordicNinja Secures €200 million Fund to back European Startup

Enrique de Mateo and Daniel Marcos, two Spanish entrepreneurs, founded REVEL in 2020. Through its online platform, REVEL offers a simplified, highly adaptable and practical option to car ownership through its car membership service.

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In Spain, REVEL offers a comprehensive, flexible car subscription program that reduces your driving-related emissions and aids in converting to electric cars.

Read also - [Funding alert] Amsterdam-based EV Startup TAP Electric Secures €1 million in Seed Funding

About REVEL

At REVEL, we believe buying a car should be simple, inexpensive, and environmentally friendly. For this reason, we created our flexible subscription, which allows you to sign up to the car of your choice through a single monthly payment that includes all costs. Without reservations or fine print…and with the knowledge that you can change cars or quit at any time after the initial year of your subscription.

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