Bipi Cars annpunced completing a €10.5 million Series B funding round led by Adevinta.

Bipi Cars, a Madrid, Spain-based startup providing an all-inclusive car-as-a-service subscription service, announced completing a series B funding round of €10.5 million ($12.3M).

The money was raised from investors led by Adevinta Ventures alongside Toyota AI Ventures, Atresmedia, and existing investors Maniv Mobility, IDC Ventures and TA Ventures.

Proceeds will be used to further accelerate Bipi's growth in the Spanish market by hiring new talent, investing in technology, and entering new European markets including France.

Bipi Cars, founded in 2017 by CEO Hans Christ, provides consumers with a hassle-free alternative to car ownership with fully-flexible, all inclusive monthly subscriptions to high quality new and used cars for a single, all-inclusive monthly payment and a digital-first, 100% online transaction process. The company claims to be the market leader in Spain and is also active with operations in France.

Bipi Cars previously raised about $10 million.