Spotawheel secures €300M to scale used car subscriptions across Europe

Announcing senior secured credit facility to Spotawheel

Athens-based Spotawheel, one of Europe’s fastest-growing used car platforms across Greece, Poland and Romania, has secured €300 million in a mix of equity and debt capital from a consortium of leading European investors. The fresh funding will accelerate the company’s expansion across Europe and fuel the growth of its used car subscription fleet, offering consumers an affordable, flexible alternative to traditional car ownership.

The senior secured credit facility is provided by Pollen Street Capital, a fast growing private capital asset manager with > €7bn AUM. This partnership marks a strong vote of confidence in Spotawheel’s sustainable business model and long-term potential, reflecting the growing trust the company has built among leading financial institutions and strategic investors.

A new era of car access

With car prices soaring and household budgets under pressure, consumers are rethinking the economics of car ownership. Spotawheel’s model gives people the freedom to “opt out” of rising acquisition and maintenance costs, providing flexible, value-for-money access to quality used cars through an easy digital subscription experience.

“Cars have become one of the most inflationary items in our daily lives,” said Charis Arvanitis, Founder & CEO of Spotawheel. “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.”

Scaling a sustainable alternative

For consumers, Spotawheel brings transparency, affordability, and peace of mind through high-quality, verified used cars. Its model offers drivers the ability to adapt their car-related costs to their evolving lifestyle needs — without compromising on quality or reliability.

For investors and lenders, Spotawheel represents a high growth — high return financial asset class that removes complexity and reduces the inherent risk of the automotive vertical. Built on long-term consumer demand for flexibility rather than ownership, the company combines operational efficiency with sustainable growth fundamentals. Spotawheel has already achieved 100% year-over-year growth and industry leading ROAs, underpinned by strong unit economics and a robust technological backbone.

Building Europe’s trusted used car platform

Founded in Athens, Spotawheel has redefined how people buy and now subscribe to used cars. Its proprietary technology platform powers every step of the process — from intelligent pricing and automated inspections to personalized customer recommendations — ensuring reliability and efficiency at scale.

“We are building a mobility model that makes sense for today’s economy and tomorrow’s consumers,” Arvanitis added. “This funding allows us to keep growing our fleet sustainably, empowering thousands more drivers to access cars without the financial strain of ownership.”