We advised Bipi in its financing round of € 16.5 million led by the Italian fund P101.
Bipi, the car underwriting marketplace, raised € 6m in a round led by the Italian fund P101 SGR, based in Milan. Across Legal advised Bipi on this capital inflow that has mainly been used to accelerate its national growth, recruit new talents (it already has a team of 100 employees), invest in technology and new products, as well as to prepare its expansion to the Italian market.
The transaction was carried out in two parts, with a first closing of € 10.5 million led by Adevinta Ventures, Adevinta’s investment tool, and with the participation of Toyota Al Ventures and Atresmedia. Moreover, previous investors such as IDC Ventures, TA Ventures and Maniv Mobility, among others, also participated.
Since that first financing closure, Bipi began operating in France and, a few months later, Grupo Renault has acquired the company with the commitment to keep the entire workforce.
Founded in 2018 in Spain, Bipi has experienced rapid growth in our country after obtaining a first round of financing of € 2.5 million led by Kibo Ventures and another second series A of € 6.5 million, led by the Israeli fund Maniv Mobility thus reaching the sum of more than € 25 million obtained in financing.
