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Saturday | October 24 | 2020

MotorK receives €10 million in equity and debt

MotorK raised a fundraising of more than 10 million Euros between equity and debt to further accelerate its growth in the post covid low touch economy. 

Real Web led the investment round. Instead illimity, the high-tech bank specialized in SME credit, is the sole provider for the debt facility.

MotorK plans to expand its skills into the digital auto customer journey with the aim of supporting the industry disruption.

This new financing will allow the company to fast-track the release of new digital and technological tools consolidating the wide marketing suite range of products and services already available to dealerships and manufacturers.

The capital raised will also be used to strengthen the international team.

MotorK’s new backers thus join the pre-existing shareholders: 83North and Zobito, two prestigious venture capital firms, and the European Investment Bank, which granted MotorK a €30 million credit line at the end of 2018 to support Research & Development investment.

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