Revel — Series B (estimated) · approximately €120M

Madrid car-subscription company Revel closed a deal of more than €120M led by Openbank (Santander). The deal combines buying shares from existing partners (secondary), a capital increase, and converting convertible loans already on Revel's books. The new-money (primary) part was not disclosed, so the amount is the deal total. Existing investors DTE Capital and Citi also took part, and the management team stays in place. Santander Consumer Finance had put in €15M of equity plus a €100M fleet facility in 2023. No source states the stage, so it is inferred from the size, and no source says Openbank took control.