GlobeNewswire by notified

Adevinta Ventures announces investment in Spotawheel’s Series B €110M funding round


Barcelona and Athens, 26 April 2022 - Adevinta Ventures, the investment arm of Adevinta, today announced its investment in Spotawheel, a leading exchange to exchange (E2E) automotive digital platform. The new funding round closes at €110M in equity and asset-backed debt, led by VentureFriends  joined by Adevinta Ventures, Uniqa Ventures, Rockaway Ventures, Velocity Partners, FJ Labs, Collective Spark and other notable investors, coupled by a floor plan facility mix from leading European credit and banking institutions. The additional funding will primarily fuel Spotawheel’s team growth adding +700 people in the next 12 months (currently scaling up Germany local operations while establishing teams throughout Western Europe), introducing in parallel new online consumer offerings in the course of the coming quarters. 

To view this piece of content from, please give your consent at the top of this page.

Founded in  2016 by Charis Arvantis, Christos Zis and Kiriakos Agadakos, Spotawheel uses innovation to improve the process of  selling and buying used cars. Since creation, the company has expanded rapidly, evolving into one of the fastest-growing companies in Europe and establishing itself in the market through its proprietary sourcing engine, blending advanced technologies like Big Data with human innovation. This provides a competitive advantage, enabling the business to efficiently predict demand and supply, as well as market trends valuation with remarkable precision and scale. Spotawheel’s  new digital business model, with more than 60% of its customers using the online touchless shopping feature, provides a strong differentiation point for the business, further supported through provision of additional features such as Written Technical Inspection of 200+ points, a 5 Year Warranty, 14 Day Money Return Policy and country-wide vehicle delivery.

Building on its strong market position, this funding round will support Spotawheel’s continued expansion plans, with the business expecting to soon add Romania to its Central & Eastern Europe retail market portfolio of 100B used cars market, after its successful growth in Poland and Greece. The business is also expected to exceed its projected 200M revenue run rate milestone within 2022. In addition, Spotawheel is looking to increase its vehicle offering across its platforms, while also expanding in-house preparation capacity to 50.000 cars per annum to help drive further growth. 

Jordi Iserte, Investment Director at Adevinta Ventures, said: "Fully transactional and frictionless experiences are the new norm and the motors industry has also started to move into that direction. With its focus on transparency and strong data capabilities, we see Spotawheel as the player to unlock the European cross-country arbitrage (Western-Eastern) and we are thrilled to support Charis and his talented team along this journey.”

Charis Arvanitis, Spotawheel founder and CEO, commented:  “It’s amazing to be accelerating our journey of digitally transforming the CEE used car landscape, backed by our customers, our people and our funding partners. We want our customers to enjoy the largest assortment of great quality cars while offering them the best options to own or just drive any of them. Fintech products in our pipeline such as our fresh used car subscription offering follows that exact logic, allowing more flexibility for any person to drive truly great and safe cars”.


Notes to editors

Media contacts
Mélodie Laroche
Corporate Communications
T: +33 (0) 6 84 30 52 76

Katerina Paschou
T: + 30 210 256 1466

Outstand Communications
Alexia Sakellariou
T: + 30  210 331 1000 

About Adevinta Ventures
Adevinta Ventures is the early stage investment arm of Adevinta, a global online classifieds specialist, operating leading digital marketplaces in 15 countries. Adevinta Ventures invests in fast-growing European startups that can shape the future of marketplaces. Leveraging the top positions of Adevinta's brands (e.g. leboncoin,, Fotocasa,, Subito, Marktplaats) Adevinta Ventures adds strong value and is a long-term partner to portfolio companies. Current portfolio and key investment areas include proptech (Kodit, Flatfair), future of work (Medwing), mobility (Spotawheel, 2trde, PaulCamper, Bipi-exited) and fintech (Lovys). Find out more at
About Spotawheel
Starting as a group of car mechanics under the name Spotmechanic that dreamt of a sincere market of used cars, Spotawheel is continuing this effort, re-defining the term ‘trust’ in the car industry. The company is among the fastest-growing platforms of buying and selling used cars in Europe based on the transparency it offers: Written Technical Inspection of 200+ points, Free Test Drive, up to 5 Years Warranty, Delivery throughout Greece and Poland, 7 and 14 Days Money Return Policy while it is the only company in the industry that offers touchless purchases. Spotawheel is supported and funded by prominent Greek and foreign investors, while it has entered into valuable partnerships with the largest companies in the field. The Spotawheel team currently counts more than 350 employees and operates in Greece, Poland, Germany and soon in Romania, with the sole purpose of providing the ultimate experience to its customers, owners and buyers. Discover more at

To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

IBFD launches the 2021 Yearbook on Taxpayers’ Rights19.5.2022 10:00:00 CEST | Press release

Today, IBFD launches the 2021 Yearbook on the Protection of Taxpayers’ Rights (OPTR). The book is a compilation of up-to-date information on the effective protection of taxpayers’ rights. AMSTERDAM, May 19, 2022 (GLOBE NEWSWIRE) -- Prof. Dr Pasquale Pistone and Prof. Dr Philip Baker, Directors of IBFD’s OPTR, will present the Yearbook at the 7th International Conference on Taxpayer Rights, hosted by the Center for Taxpayer Rights, explaining some of the main events and trends that arose last year in the protection of taxpayers’ rights around the world. Click here to watch the video. The OPTR reports on the protection of taxpayers’ fundamental rights around the world. The precise and technical information of the OPTR contains reference to taxpayer bills, conventions and statutes, including their judicial and administrative interpretation, which explore how states apply this protection in practice. The OPTR serves as a unique legal basis for developing further research on the legal remed

Centrient Pharmaceuticals announces its achievement of a significant milestone in the clean production of antibiotics19.5.2022 10:00:00 CEST | Press release

Being the first company to publicly announce 100% PNEC compliance for its entire oral antibiotics product range Rijswijk, The Netherlands, May 19, 2022 (GLOBE NEWSWIRE) -- Summary Centrient Pharmaceuticals reached a significant milestone in the clean production of its antibiotics, with the lowest environmental impact and minimizing the potential contribution to antimicrobial resistanceThe company is the first to publicly announce that Its entire supply chain of oral antibiotics – including its own and supplier manufacturing sites - is fully compliant with the stringent Predicted No Effect Concentration (PNEC) discharge targets set by the AMR Industry AllianceThis achievement demonstrates Centrient Pharmaceuticals’ commitment and leadership in the responsible production of antibiotics. Centrient Pharmaceuticals announces 100% compliance with the stringent Predicted No Effect Concentration (PNEC) discharge targets set by the AMR Industry Alliance for clean manufacturing of its full oral

Share Buyback Transaction Details May 12 – May 18, 202219.5.2022 10:00:00 CEST | Press release

Share Buyback Transaction Details May 12 – May 18, 2022 May 19, 2022 - Wolters Kluwer today reports that it has repurchased 118,000 of its own ordinary shares in the period from May 12, 2022, up to and including May 18, 2022, for €11.0 million and at an average share price of €92.92. These repurchases are part of the share buyback program announced on February 23, 2022, under which we intend to repurchase shares for up to €600 million during 2022. The cumulative amounts repurchased to date under this program are as follows: Share Buyback 2022 PeriodCumulative shares repurchased in period Total consideration (€ million)Average share price (€) 2022 to date 2,573,464 238.4 92.64 For the period starting May 5, 2022, up to and including August 1, 2022, we have engaged a third party to execute €140 million of buybacks on our behalf, within the limits of relevant laws and regulations (in particular Regulation (EU) 596/2014) and the company’s Articles of Association. Repurchased shares are add

Mainz Biomed & Dante Labs Announce Partnership for the Commercialization of ColoAlert in Europe and the United Arab Emirates (UAE)19.5.2022 09:01:00 CEST | Press release

Dante Labs is a Global Leader in Genomics and Precision MedicineMainz is Exclusively Focused on Developing Next Generation Diagnostics for the Early Detection of Cancer BERKELEY, Calif. and MAINZ, Germany and NEW YORK, May 19, 2022 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer and Dante Labs, a global leader in genomics and precision medicine, announced today a partnership for the commercialization of ColoAlert in Italy and the United Arab Emirates (UAE). ColoAlert is Mainz’s flagship product, a highly efficacious and easy to use at-home detection test for colorectal cancer (CRC). Dante Labs is a global leader in genome sequencing with a product development and commercial franchise focused on providing personalized preventive healthcare solutions by leveraging its robust databases and proprietary software platform to offer next-generation diagnostic tools direct to co

Regarding the approval of the key financial performance indicators for AB Klaipėdos nafta for the period of 2022-202419.5.2022 08:22:29 CEST | Press release

AB Klaipėdos nafta (hereinafter – the Company) hereby informs that the Government of the Republic of Lithuania on 18 May 2022 adopted the resolution No. 509 “Regarding the approval of the key financial performance indicators for state-owned enterprises for the period of 2022-2024”, which establishes the following performance indicators for the Company: Indicator202220232024Average annual adjusted EBITDA* Period 2022–2024 ≥ EUR 33.9 millionAnnual financial debt to equity ratio Period 2022–2024 limit 1.7–3.2 times * EBITDA less adjustment (temporary regulatory differences, temporary fluctuations in the fair value of financial derivatives, results from disposal or revaluation of non-current assets, compensations received for previous periods, other non-typical corrections). Mindaugas Kvekšas, Chief Financial Officer, +370 46 391772