Release date: 17 December 2018
Promoter – Financial Intermediary
MOTORK ITALIA SRLLocation
Description
The project consists of investments in MotorK's Software as a Service (SaaS) platform and online marketplace as well as in sales and marketing expenses. The expenditures will take place in Europe in the 2018-2021 period. MotorK is a software company providing in-cloud solutions to automotive original equipment manufacturers (OEMs), dealers and final customers. The company was founded in 2011 in Milan by three serial entrepreneurs who are still running the company. As of today, the company has 300 full-time equivalents (FTEs) with subsidiaries in UK, France, Spain and Germany. MotorK offers a portfolio of integrated digital products and services designed to support automotive dealers and sales teams in navigating the challenges and seizing the opportunities posed by the digital economy. In particular, MotorK develops and sells two products: DriveK (designed for OEMs) and DealerK (designed for auto dealers).
Objectives
This project will support the growth of the company and the expansion of its target markets.
Sector(s)
- Services - Information and communication
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 75 million
Environmental aspects
The project concerns investments in research, development and engineering (RDE) activities for the development of a complete digital automotive marketplace and dealer support platform as well as in operating expenditures supporting the growth of the company. The RDE activities take place in existing locations without environmental impacts and do not require any environmental authorisations.
Procurement
The company is a private sector company not operating in the utilities sector and not having a status of a contracting authority. Thus, it is not covered by the EU Public Procurement Directives. Nevertheless, the procurement policies and the supply management characteristics as presented to the Bank are considered acceptable.
Status
Signed - 30/11/2018
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).