Revel’s €120m-plus transaction includes purchases of shares from existing partners. The company also received fresh capital, and existing convertible loans were converted. Openbank led the deal, with DTE Capital and Citi also participating. The reported total combines these components, but does not break down the amount allocated to each.
The agreement builds on a partnership Revel and Openbank began in 2023, with the stated aim of developing the private-customer leasing market in Europe. Openbank is owned by Santander. Revel was founded in 2020 by Enrique de Mateo and Daniel Marcos. Its existing management team remains unchanged after the transaction.
Revel says it closes more than 2,000 contracts a month. Its digital platform handles vehicle contracting and management. Customers can arrange a lease online, with digital signatures and home delivery. The company says a car can be booked in under five minutes, and vehicle-related services are included in a single monthly payment.
That bundled payment is central to Revel’s offer. A separate Tesla battery dispute reported by RUSSPAIN.COM concerned repair estimates above €16,000 for some taxi drivers whose cars were out of warranty.
Revel says it represents 4.2% of private-car registrations in Spain and 10.6% of all leasing registrations. The company has grown from more than 50 employees in 2023 to a workforce of over 270 in 2026. Across Spain, leasing registrations rose 8% through October 2026, while sector investment reached €7.766 billion, Europa Press reported.
The company launched in Italy in 2026, its first international market. Revel says results there are exceeding expectations. Its year-end targets are more than 30,000 customers and revenue close to €70m. CEO Enrique de Mateo told elEconomista that the revenue target would be roughly three times the company’s 2025 revenue.
“This transaction gives Revel’s growth a boost and allows us to continue our mission of enabling anyone in Europe to access a new car simply and without complications,” co-founder and CEO Enrique de Mateo said in a statement translated from Spanish. Revel’s expansion comes as its chief executive has described private-customer leasing as a growing, increasingly used product.
