Cuimothe first Marketplace digital from Spain, through which a user can buy and sell motorcycles completely online, has successfully completed an investment round of 900,000 euros. Was Led by the investment fund Encomenda, it was joined by recognized business angels from the sector such as Carlos Rivera, founder of Clicars, who will also act as advisor to Cüimo; Hugo Arévalo, co-founder of ThePower Business School; and several individual investors in Seed Rocket led by Nacho Rodés, CEO of Rocket Digital. Aside from that, ENISA was involved in the operation with 300,000 euros and with legal advice from Antón Vieito (AV law), a law firm specializing in start-ups.
The value proposition of Cuimo is clear: a 100% online buying and selling process for motorcycles gives the maximum Transparency in the transaction. Additionally, by digitizing the process, the platform enables supply and demand to shift so that distance is no longer an insurmountable obstacle when buying or selling a motorcycle – all at the touch of a button.
The company wants to use this round invest in human and technical capital, which allows them to further expand the marketin addition to Use the funds generated to expand other business areas do you like your section? “Cüimo Prime” of already refurbished motorcycles that can be delivered to the buyer's home within 72 hours.
Around, Alejandro de la Hoz, Co-founder and CEO of Cuimoemphasized “We are very pleased to be able to contribute partners with so much qualified experience. Your trust is the lifeline we need to achieve our goal of soon being the reference platform that channels all purchases and sales of used motorcycles in Spain.” ”
Cüimo has grown 25% month-on-month since March 2023, closing in October a monthly turnover of 350,000 euros. The startup's goal is to reach profitability in the coming months and end 2024 with sales of 12 million euros and more than 2,500 motorcycles sold 100% online.
“The motorcycle market in our country is still very traditional, very little digitized and has a high level of mistrust between individuals. Sales are almost exclusively limited to stores close to the buyer's home. That is, it is a very localized, lengthy and full of mistrust between buyers and sellers.claims Alejandro de la Hozwhat that adds “Cüimo has been able to meet this market need and offer a technological solution that is changing the way motorcycles are bought and sold in Spain.”
This is how the Cüimo marketplace works
Stand behind the Spanish startup Jaime Alvarez, Enrique Adrien and Alejandro de la Hoz, who decided on this adventure after a bad experience buying their used motorcycles. As a result, these three entrepreneurs developed a process through a digital platform The consumer could buy a motorcycle from a private seller anywhere in Spain and receive it at the front door of his home in just seven days, checked and with all official papers in order.
Once the user selects the motorcycle they are interested in on the platform, Cüimo checks the motorcycle at the seller's home and creates a report on its status on the website. The platform then automatically generates and manages all legal documents that are submitted electronically to the various official bodies. This is possible thanks to the implementation of the DGT software on the platform, which allows all documents to be signed online, and a network of experienced mechanical experts who inspect and transport the motorcycle to ensure maximum comfort.
Throughout the entire process, Cüimo secures the amount of the price and transfers it to the seller upon completion, thus ensuring all payments and collections of the transaction. Additionally, motorcycles can be paid for in installments through the platform, making it easier for buyers to pay and giving them access to better models.