Spotawheel Raises €300M In Debt And Equity To Expand Used Car Subscriptions And Sales

Spotawheel has not disclosed the exact breakdown between debt and equity or named its equity investors, describing them only as “a consortium of leading European investors.”

Founded in Athens in 2016, the platform has previously raised funds from VentureFriends and Velocity Partners, bringing its total funding to €410 million. Spotawheel provides used cars for sale or subscription across Greece, Poland, and Romania, using proprietary technology that includes personalised recommendations.

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The company is capitalising on the growing trend of alternatives to car ownership amid rising vehicle prices and household budget pressures. The new funding will support European expansion and growth of its used car subscription fleet.

Charis Arvanitis, founder & CEO of Spotawheel, said: “Cars have become one of the most inflationary items in our daily lives. Consumers desperately need an option that doesn’t drain their disposable income. Spotawheel gives them that flexibility — the ability to adjust their car-related spending to life’s constant changes, without the burden of ownership.”

Michael Katramados, partner at Pollen Street, added: “We’re pleased to partner with Spotawheel’s talented team, whose innovative product and customer-centric approach have set a new standard for used car leasing options in Europe.

"This funding will enable Spotawheel to further expand its business, bridge critical gaps in used car financing and strengthen its commitment to providing flexible, reliable mobility solutions for customers.”

About Spotawheel

Spotawheel is one of Europe’s fastest-growing used car platforms, delivering vehicles directly to your doorstep. By redesigning the entire buy-and-sell process, we offer a transparent, stress-free experience that maximises value and customer satisfaction, setting a new standard in the used car market.