Revel closes round of more than €120M led by Openbank

Revel has closed an operation of more than €120 million led by Openbank, Santander's digital bank, with DTE Capital and Citi also taking part. The company did not detail how much of the total is new money.

The round combines the purchase of stakes from existing partners, a capital increase and the conversion of convertible loans already on the balance sheet. Openbank and Revel have worked together since 2023. Enrique de Mateo is co-founder and CEO, and Daniel Marcos is co-founder. The current management team stays in place.

Revel runs a digital car-renting platform for individuals, handling contracting and administration fully online. By its own figures it holds 4.2% of private-individual registrations in Spain and 10.6% of renting registrations. It entered Italy in 2026, its first market outside Spain.

Revel plans to triple its fleet over the next twelve months.