Business · Companies · 5 hrs ago

Momoven raises €3.5 million to expand its motorcycle rental platform

Momoven raises €3.5 million to expand its motorcycle rental platform

Momoven has raised €3.5 million to grow its motorcycle rental platform.

The Spain-based company connects motorcycle owners and rental businesses with people who want to rent bikes, mainly premium and larger models.

MotoGP rider Álex Márquez joined the latest funding round, alongside private investors, family offices and public finance bodies.

Momoven says its business is established in Spain, with nearly 100,000 users and more than 8,000 motorcycles available.

The company will use the money to improve its product, hire staff and expand internationally; it also plans to strengthen technology, marketing, operations and business development.

Unlike traditional rental firms, Momoven does not need to buy and maintain its own fleet, which may make it easier to offer bikes in new markets.

The company has not named its next international market.

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What people are saying

David BerbelMomoven CEO and co-founder
This round comes at the right time.
via Expansión
This injection of capital gives us the financial strength and strategic partners needed to keep growing in Spain and even consider an imminent move beyond our borders.
via Expansión