Bipi Cars secured a round of financing of 6.5 million euros from Maniv Mobility, Kibo Ventures, IDC Ventures and TA Ventures

Bipi Cars, a MAdrid, Spain-based startup providing an all-inclusive car subscription service, announced the completion of a EUR 6.5 million ($7.3M) capital investment round.

The funding was led by Israel-based venture company Maniv Mobility and included Kibo Ventures, IDC Ventures and TA Ventures.

The money will be used to hire more people and launch in other 3 European markets apart from the Spanish one.

Bipi Cars, founded in 2017 by CEO Hans Christ, is offering monthly all-inclusive car subscriptions. Bipi offers subscription terms of one to 36 months with prices per month ranging to €250-350 for compacts; €350-550 for medium-sized cars; and €450-550 for full-sized vehicles. The base fee includes around 1,500 kilometers (930 miles), insurance, taxes, maintenance, inspections, and delivery.

Prior to this round, Bipi raised €2.5 million in seed funding from the venture capital firm from Spain Kibo Ventures.