Car subscription service finn.auto closes a €20M Series A round
Munich-based startup finn.auto has closed a €20 million Series A round from White Star Capital, an early investor in TIER Mobility, and the Zalando co-CEOs Rubin Ritter, David Schneider and Robert Gentz with the participation of previous investors HV Capital, Picus Capital, Heartcore und UVC Partners, Starting Up reports.
Founded in 2019, finn.auto is a mobility provider that offers monthly car subscription services. Vehicles can be chosen and rented for a few months with already covered costs for repairs and insurance thought the startup’s platform. As the CEO and founder of finn.auto Max-Josef Meier noted, completing a subscription is as easy as buying shoes online and takes only 5 minutes time.
finn.auto now has more than 75 vehicles in stock with price range starting from €279 for Fiat 550 to €999 for BMW X6. Furthermore, its fully electric vehicle fleet is being systematically expanded, because of its key issue – sustainability. For each car subscription, the company offsets the CO₂ emissions through planting trees via ClimatePartner.
According to Tech.eu, the startup wants to invest the proceeds into further scaling in Europe and the USA.