finn.auto closes new financing round
finn.auto closes €20m Series A financing round
White Star Capital and Zalando co-CEOs back the sustainability-focused car subscription platform as new investors.
Munich, 7 December 2020. With the announcement of a €20m Series A funding round finn.auto has taken another major step towards its mission to make mobility fun and sustainable by building the most popular car subscription platform in the USA and Europe.
The addition of venture capital firm White Star Capital, and the Zalando co-CEOs Rubin Ritter, David Schneider and Robert Gentz alongside the commitment of all existing investors – HV Capital, Picus Capital, Heartcore Capital and UVC Partners – is a strong sign of confidence in its concept.
Alongside providing easy and flexible access to vehicles, the finn.auto team have placed sustainability as a core offering. For each car subscription, the company is offsetting the CO₂ emissions of its vehicles so that all subscribers can drive their cars climate-neutral. In addition, finn.auto is expanding its range of fully electric vehicles and is supporting selected regional climate protection and development projects.
By November 2020, just under a year since the company launched, finn.auto had secured more than 1,000 car subscriptions and a 4.8 rating on trustpilot, one of the strongest in the industry. In addition, finn.auto has recently partnered with some of the world’s leading car manufacturers and significantly expanded its range of products. The central building block for the success of the Munich-based company is its technology platform which is capable of automating processes along the entire value chain. This scalability will enable finn.auto to bring hundreds of thousands of climate-neutral vehicles to the streets.
„We are delighted to bring such strong investors on board and that our existing investors are doubling-down on their confidence with this new round. This shows that we are on the right track with our ambition to bring an ecommerce like user experience to the car industry and to pioneer climate-neutral car subscriptions,” explains Max-Josef Meier, CEO and founder of finn.auto , adding: „With finn.auto, mobility with your own car becomes as easy as buying shoes on the Internet. The cars on finn.auto – many of which are immediately available – can be ordered online at flexible terms, in under five minutes, and will be directly delivered to your doorstep.”
finn.auto is the platform for flexible and climate-neutral car subscriptions. The CO 2 emissions of all finn.auto vehicles are compensated in certified climate projects. With finn.auto, mobility with your own car becomes as easy as buying shoes on the Internet: With just a few clicks you can subscribe to a car that is quickly available – without having to worry about insurance, registration, taxes or maintenance. finn.auto was founded in 2019 by Max-Josef Meier (former founder of Stylight.de). The mission: Make mobility fun and sustainable by building the most popular car subscription platform in the USA and Europe.
About UVC Partners
Unternehmertum Venture Capital Partners (UVC Partners) is a Munich- and Berlin-based early-stage venture capital firm that invests in technology-based startups in the areas of enterprise software, industrial technologies, and mobility. The fund typically invests between € 0.5 – 4m initially and up to € 15m in total per company.
Portfolio companies benefit from the extensive investment and exit experience of the management team as well as from the close cooperation with UnternehmerTUM, Europe’s leading innovation and business creation center. With over 240 employees and more than 100 industry partners, UnternehmerTUM can draw from many years of experience in establishing young companies. This cooperation enables UVC Partners to offer startups unique access to talent, industry customers, and other financial partners. The portfolio includes investments such as Blickfeld, Carjump (Free2Move), FlixBus, KONUX, TWAICE and Vimcar.