Motoreto Drives Forward: Expanding Digital Car Marketplace into Portugal with COREangels Lisbon's Support

Hello there, dear COREangels community! We've got some exciting news from our COREangels Lisbon startup, Motoreto!

Motoreto, a Spanish marketplace specializing in used cars and car services, is gearing up to expand its operations into Portugal, aiming to revolutionize the way used cars are bought and sold. But what makes this move particularly noteworthy? Let’s explore.

Founded in 2020 during the pandemic, Motoreto emerged as a response to the urgent need for digital solutions in the automobile sector. With a focus on digital transformation, the company has developed a unique all-in-one platform, offering B2B SaaS solutions that combine market intelligence software with digital sales and purchase channels.

This year, with a robust team of 15 professionals, Motoreto achieved a remarkable €7 million in gross sales and is on track to increase its profitability by 30 to 40%. The company’s impact is evident, having processed over 10,000 orders from used car consumers last year, dramatically increasing stock supply access for dealers, and significantly reducing fixed costs.

The expansion into Portugal is supported by COREangels Barcelona, COREangels Lisbon and COREangels Madrid, alongside several other key sector players, demonstrating the strength and potential of Motoreto’s innovative platform. Marco Conde, CEO of Motoreto, shares, “Spain is our main market, but strategic expansions into Portugal, France, and Italy are imminent. We are thrilled about the potential to digitize the used car distribution business across these markets.”

Motoreto CEO, Marco Conde © Link to Leaders

The company is also in the midst of a €1.5 million investment round, aiming to solidify its growth and kick-start its international expansion. This isn't just about scaling a business; it’s about transforming an industry traditionally resistant to change.

Stay tuned as we continue to follow Motoreto’s impressive journey towards reshaping the European used car market. The best is yet to come!

Source: Link to Leaders