Imatra, the digital platform dedicated to cycling and sport, has signed an investment agreement with CDP Venture Capital, the leading venture capital operator in Italy and one of the most important in Europe.
The transaction, to be executed through the Digital Transition Fund, includes a phased investment of up to €5 million to support the growth of the start-up and the expansion of its global cycling community.
This agreement is part of a wider €8 million fundraising involving not only the founders but also other private investors.
The announcement also highlights that the “European market for cycling-related services is experiencing significant growth, having already surpassed the €21 billion mark, with a steady upward trend.
Enrico Filì, senior partner and head of the digital transition fund at CDP Venture Capital, commented: “Imatra offers an innovative solution that allows users to transform their physical activity into goods and services, promoting a virtuous and active lifestyle. We are proud to support the Imatra team in this exciting development.”
Imatra app turns kilometres cycled into digital currency
Imatra – a fintech and sports tech startup – aims to engage the international community of cyclists and cycling enthusiasts, strengthening their connections and adding value to their sporting activities.
- Through their passion for cycling – potentially expanding to other sports in the future – Imatra users can generate “Imatra Coin” through their physical activity.
- This proprietary digital cashback system is completely green and allows users to spend the native digital currency on the imatra.com marketplace, which features top premium cycling and sports lifestyle brands.
“Imatra combines the power of a social network with a marketplace dedicated to cycling enthusiasts, offering the global community tangible value for their sporting activities,” said Manolo Bianchini, CEO of Imatra.
“We are particularly proud of the confidence placed in us by CDP Venture Capital. This is an important milestone that will allow us to further develop the project and make it even more cyclist- and athlete-friendly.”
A sentiment echoed by Luca Celli, co-founder of Imatra, who added: “Imatra’s journey continues to be driven by innovation while staying true to its commitment to a healthy and sustainable lifestyle. These partnerships allow us to improve our performance and better respond to the evolving needs of our growing community.”
With this latest investment, Imatra accelerates its growth and strengthens its position as a key player in building a digital ecosystem for the global cycling community.
Earlier investors and financial milestones
Two years ago, Fintech Partners, a venture capital investment vehicle of the SRI Group, joined Imatra’s founding team. The company, backed by key shareholders Giulio Gallazzi and Bernardo Vacchi, has achieved significant financial milestones, including breaking even by the end of 2024 and achieving positive cash flow after the first 18 months of operations.
As part of the transaction, NOB-Imatra was supported by SRI Group Global, an international financial advisory and corporate investment banking group, which acted as advisor and deal arranger.
