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Revel, the car subscription startup from Spain, raises $123M to take its business up a gear

TechCrunch · 1y

Spanish startup Revel has secured €115 million ($123 million) in funding, with €100 million allocated for expanding its car subscription service. The company offers a flexible lease agreement that includes insurance and maintenance, targeting consumers who are willing to commit to at least a one-year subscription. The funding comes from a combination of debt and equity, including investments from KKR and Santander Consumer Finance. Revel aims to tap into the growing market for car subscriptions as an alternative to car ownership or traditional leases, offering flexibility and convenience to consumers.