Madrid-based venture capital firm Cabiedes & Partners has led an €800,000 round for SocialCar, a Spanish car-sharing platform.
The fresh capital will enable the business to fund its international expansion and to consolidate its share of the Spanish market.
Pau Serracanta, CEO of Dorna Sports, which organises the MotoGP and World Superbike championships, also took part in the round.
Barcelona-headquartered SocialCar is an online peer-to-peer platform allowing car owners to rent out their private vehicles. Founded in 2011, the business, which has developed apps for the iOS and Android operating systems, currently has around 40,000 users in Spain.
Mar Alarcon Battle is CEO and founder of SocialCar.
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