Spotawheel Funding, Investors & Competitors

Spotawheel has raised $478M across 6 funding rounds, most recently a $352M undisclosed-stage round in September 2025.

Last Spotawheel funding round

$352M

Undisclosed stage · Sep 2025

Cumulative funding Spotawheel raised

$478M

across 6 funding rounds

Key investors in Spotawheel

  • VentureFriends
  • Velocity Partners
  • FJ Labs
  • Bossa Invest
  • Endeavor Catalyst
  • UNIQA Ventures
  • Rockaway Capital
  • Collective Spark

Spotawheel Overview

About Spotawheel

Spotawheel is an Athens-headquartered online used car dealership operating in Greece and Poland. Launched in 2015, it offers inspected vehicles with warranties, financing options, and home delivery services. Buyers browse listings on spotawheel.com, selecting from sedans, SUVs, and electric models with detailed condition reports from certified mechanics. The platform handles paperwork and logistics, expanding to Warsaw and Krakow with a focus on transparency through 200-point inspections and seven-day return policies.


Founded

2016

HQ

GreeceAthens

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Spotawheel Funding History

Spotawheel has raised a total of $478M across 6 funding rounds.

Spotawheel's first fundraising round was a $300K seed round in June 2016. The most recent completed round was a $352M undisclosed-stage round in September 2025.

Spotawheel funding rounds

Spotawheel funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2025Undisclosed stage-$352MSpotawheel is an Athens-based used car platform founded in 2016, operating in Greece, Poland, and Romania, offering vehicles for sale and subscription with doorstep delivery, leveraging proprietary technology for pricing, inspections, and personalized recommendations to ensure transparency and customer satisfaction in a traditionally untrustworthy market. The company provides flexible mobility solutions amid rising car prices and inflation, positioning itself as an Amazon-like experience for used cars, with a focus on subscription fleets as an alternative to ownership. In November 2025, Spotawheel secured €300 million in a mix of equity from a consortium of leading European investors and debt via a senior secured credit facility from Pollen Street Capital, bringing total funding raised to €410 million across equity and debt instruments since inception. Previous backers include VentureFriends and Velocity Partners. The round, announced around November 6, 2025, aims to fuel European expansion into new markets, grow the subscription fleet size and vehicle variety, accelerate customer acquisition, and improve fleet utilization. Pollen Street Capital highlighted Spotawheel's innovative product and customer-centric approach in used car leasing. Leadership, including CEO Charis Arvanitis, emphasized addressing car cost inflation by enabling flexible spending without ownership burdens. The funding supports Spotawheel's shift from startup to growth-stage execution, competing in a market favoring access over ownership through data-led operations and multi-country presence. Plans include sustainable fleet growth and bridging gaps in used car financing, with execution on expansion and customer economics key to scaling.
Apr 2022Series BVentureFriends (lead); Velocity Partners; Rockaway Ventures; FJ Labs; Rockaway Capital; UNIQA Ventures; Endeavor Catalyst; Adevinta Ventures; Bossa Invest; Collective Spark$106MSpotawheel is an end-to-end automotive digital platform founded in 2016 in Athens, Greece, specializing in the buying and selling of used cars online. The company has built proprietary technology combining Big Data and advanced algorithms to predict market demand, supply, and trends with precision. Its digital business model features touchless online shopping, with over 60% of customers using the online purchase feature, supplemented by services including a 200+ point written technical inspection, 5-year warranty, 14-day money-back policy, and nationwide vehicle delivery. The platform operates across multiple Central and Eastern European markets, including Greece and Poland, and was expanding into Romania at the time of this round. In April 2022, Spotawheel closed a €100 million Series B funding round in equity and asset-backed debt, led by VentureFriends and joined by Adevinta Ventures, Uniqa Ventures, Rockaway Ventures, Velocity Partners, FJ Labs, Collective Spark, and other investors. At the time of the round, Spotawheel had achieved 4x year-over-year growth and had sold over 6,000 vehicles across its operating markets. The company had received approximately €120 million in total funding across multiple rounds and maintained operations in Greece, Poland, Germany, and Romania with over 350 employees. The funding was designated to support continued expansion into the Central and Eastern European used car market, targeting a €100 billion addressable market opportunity. The company projected it would exceed a €200 million revenue run rate milestone within 2022. Additionally, Spotawheel planned to expand its in-house vehicle preparation capacity to 50,000 cars per annum and increase vehicle offerings across its platforms. The company was recognized for its rapid growth, being featured on the Financial Times list of the 1,000 Fastest Growing Companies in Europe for the second consecutive year.
Sep 2020Series AVentureFriends (lead); Velocity Partners; FJ Labs$12MSpotawheel is a digital platform for buying and selling used cars, operating in Greece and Poland as of 2020, with plans to expand into 25 European cities including Germany. The company offers an end-to-end service including tested cars with technical reports, up to five years warranty, seven-day refunds, and car exchanges, powered by AI and analytics. It evolved from Spotamechanic, a used car inspection service started in 2015. In September 2020, Spotawheel raised approximately €10 million ($11.9 million) in a debt and equity round led by VentureFriends, with participation from Velocity Partners, FJ Labs, and other strategic investors. This followed an €8 million round in 2019 led by VentureFriends and Velocity Partners. Funds were allocated to European expansion, staff growth in commercial, tech, and operations roles, and enhancing used car sourcing infrastructure. At the time, Spotawheel reported triple-digit growth and a sales run rate of several thousand cars per year across Greece and Poland, holding a combined market share slightly above 0.1%. The company achieved 3-digit sales in September 2020 amid recovering car sales post-lockdowns.
Mar 2020Series AVelocity Partners; FJ Labs$6M-
Jul 2019SeedVelocity Partners (lead); VentureFriends (lead)$3MSpotawheel is an Athens-based online used car dealership operating in Greece and Poland, offering certified pre-owned vehicles with detailed inspections, up to five years warranty, seven-day returns, and AI-driven analytics for car evaluation. The company purchases cars upfront from private sellers and dealers for resale via a B2C e-commerce platform, similar to Carvana. It originated from Spotamechanic, a used car inspection service launched in 2015. In 2019, Spotawheel closed a funding round totaling approximately €8 million, including a €5 million equity and debt raise led by VentureFriends with participation from Velocity Partners and strategic investors. This brought cumulative funding to €8 million since 2016. The capital supports upfront car purchases and pan-European expansion, including recent entry into Poland where it has gained market traction. By mid-2019, Spotawheel had grown to a team of over 100, served more than 70,000 customers, and ranked among the top five car dealers in Greece.
Jun 2016SeedVentureFriends (lead); L-Stone Capital$300K-

Who has invested in Spotawheel?

11 investors have backed Spotawheel across its funding rounds, including VentureFriends, Velocity Partners, FJ Labs, Bossa Invest, Endeavor Catalyst and UNIQA Ventures.

Lead investors include VentureFriends and Velocity Partners.


Spotawheel Investors

Investors in Spotawheel by funding rounds participated
InvestorHQRoundsRoleFirst check
Velocity PartnersGreeceAthens4LeadJul 2019
VentureFriendsGreeceAthens4LeadJun 2016
FJ LabsUnited StatesNew York City, NY3ParticipantMar 2020
Rockaway VenturesCzech RepublicPrague1ParticipantApr 2022
Rockaway CapitalCzech RepublicPrague1ParticipantApr 2022
UNIQA VenturesAustriaAustria1ParticipantApr 2022
Endeavor CatalystUnited StatesNew York City, NY1ParticipantApr 2022
Adevinta VenturesSpainBarcelona1ParticipantApr 2022
L-Stone CapitalGreeceAthens1ParticipantJun 2016

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Spotawheel Competitors

Spotawheel competitors include listed companies like Recruit Holdings, Naspers, News Corp and REA Group, and private ones like Chehaoduo and Karrot Market.

Public and private companies comparable to Spotawheel
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Recruit HoldingsJapanJapanPublicly listed$24B$4B$156B6.0x
NaspersSouth AfricaSouth AfricaPublicly listed$11B$1.1B$34B5.8x
News CorpUnited StatesUnited StatesPublicly listed$9B$1.5B$17B2.0x
REA GroupAustraliaAustraliaPublicly listed$1.4B$776M$15B11.4x
ChehaoduoChinaBeijingPrivate--$10B-
Karrot MarketSouth KoreaSeoulPrivate--$2.7B-

Spotawheel Public Comps

Spotawheel is still privately-owned, but its public comps include Amazon, Alibaba Group, Recruit Holdings, Uber, Booking Holdings, Pinduoduo, Airbnb, MercadoLibre, Prosus and DoorDash.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amazon$717B$161B3.9x3.5x17.5x13.8x
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
Recruit Holdings$24B$4B6.4x6.0x37.9x25.2x
Uber$52B$6.2B3.0x2.8x24.9x14.6x
Booking Holdings$27B$8.3B4.9x4.6x15.9x12.4x
Pinduoduo$64B$14B0.7x0.7x3.1x2.8x
Airbnb$12B$2.4B7.2x6.5x36.3x18.2x
MercadoLibre$29B$3.7B3.5x2.6x27.2x25.1x

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Common questions about Spotawheel

When was Spotawheel founded?Spotawheel was founded in 2016.
Where is Spotawheel headquartered?Spotawheel is headquartered in Athens, Greece.
Is Spotawheel publicly listed?No, Spotawheel is a private, VC-backed company.
How much funding has Spotawheel raised?Spotawheel has raised $478M across 6 funding rounds.
What was Spotawheel's last funding round?Spotawheel's last funding round was a $352M undisclosed-stage round in September 2025.
Who are Spotawheel's investors?Spotawheel's investors include Velocity Partners, VentureFriends, FJ Labs, Rockaway Ventures, Rockaway Capital, UNIQA Ventures, Endeavor Catalyst, Adevinta Ventures, L-Stone Capital, Bossa Invest and 1 other.
Which companies are comparable to Spotawheel?Companies comparable to Spotawheel include Recruit Holdings, Naspers, News Corp, REA Group, Chehaoduo and Karrot Market.

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