In a time when car prices are soaring and household budgets are tightening, European startup Spotawheel is reimagining car ownership. The company’s subscription-based model lets consumers drive quality used cars without the long-term financial burden of buying one, giving them the flexibility to upgrade, downgrade, or pause their plan as their life circumstances change.
Spotawheel’s Founder and CEO, Charis Arvanitis, emphasized how car ownership has become increasingly unaffordable for many people. He noted that cars are now among the most inflationary expenses in everyday life, and Spotawheel’s service helps consumers manage their transportation costs dynamically, without being tied down by ownership or depreciation worries.
The company has now secured €300 million in equity and debt financing, including a senior secured credit facility from Pollen Street Capital. This fresh capital will drive Spotawheel’s next phase of expansion across Europe, allowing it to scale its used car subscription fleet and strengthen its data-driven vehicle platform.
Founded in Athens in 2016 by Charis Arvanitis, Kiriakos Agadakos, and Christos Zis, Spotawheel blends technology, data science, and customer experience to make car access easier and more transparent. Unlike traditional car marketplaces such as Cazoo and Cinch, Spotawheel manages every part of the customer journey through its proprietary digital platform, from smart pricing and automated inspections to personalized recommendations and flexible financing options.
Its system leverages predictive modeling and analytics to select reliable vehicles and offer warranties lasting up to five years. The platform’s sourcing network spans both local and European markets, ensuring customers can choose from a curated selection of high-quality used cars, something many competitors struggle to replicate.
With the new funding, Spotawheel plans to expand into new European markets, increase its vehicle inventory, and introduce fintech-driven solutions to simplify car access even further. These could include subscription upgrades, dynamic pricing tools, and embedded financial services tailored to evolving mobility needs.
Arvanitis said the company is focused on “building a mobility model that makes sense for today’s economy and tomorrow’s consumers,” adding that the funding will allow Spotawheel to grow its fleet sustainably and help thousands of drivers enjoy car access without the heavy costs of ownership.
