Carvolution, a Bannwil, Switzerland-based car-subscription service, raised a CHF 11m Series B funding.
The round was led by Redalpine and Armada with participation from new strategic investor Mobiliar and current shareholders. Mobiliar is also entering into a strategic partnership with the startup.
The company intends to use the funds to:
– attract new talent,
– expand its market leadership,
– grow their car-subscription service, and
– win new customers.
Founded in 2018 and led by Olivier Kofler, CEO, Luis Wittwer, Léa Miggiano, Bernhard Drüner and Adrian Boss, Carvolution is a car subscription company leader in Switzerland. From a Fiat 500 to a VW Tiguan and Tesla Model 3, customers can choose from a wide range of models for a monthly flat rate price with only one month notice period.