Cluno, a Munich, Germany-based car subscription service, raised €7m in Series A funding.
The round was led by Acton Capital, with participation from existing investor Atlantic Labs.
The company will use the funds to continue to expand operations and its business reach.
Founded in 2017 by Nico Polleti, Cluno allows people to subscribe to a car for a fixed and all-inclusive monthly fee (for a minimum period of six months) as an alternative to car ownership or lease.
The monthly fee, which depends on the chosen model, covers the vehicle, insurance, breakdown cover, tax, and maintenance.