Coches was acquired by Banco Santander.

Autodescuento SL, a Madrid, Spain-based company operating the car portal coches.com, announced that it entered into an acquisition agreement with Banco Santander.

The deal, which has the financial details undisclosed, was made through Santander Consumer Finance, which acquired 93.8% of the shares.

coches.com, founded in 2009 by Iñaki Arrola and Ignacio Arrola, has become the leader in online sales management of new vehicles in Spain, as well as one of the main players in the market for second-hand and rental vehicles.

In 2019, the company managed a volume of buying and selling opportunities equivalent to 32% of the operations of buying new vehicles from individuals in Spain. It has more than three million unique monthly users and works with thousands of dealers selling vehicles in Spain, both new and used, different rental companies and other operators in the sector.