Carvolution, a Bannwil, Canton Bern, Switzerland-based car subscription company, raised CHF15M in Series C funding.
The round was led by Francisco Fernandez, founder of the Avaloq Group, as well as Ringier Digital Ventures.
The company intends to use the funds to advance product development, continue market expansion, and grow the team.
Led by CEO Oliver Kofler, Carvolution is a car subscription company offering an alternative to purchase and leasing. Customers select their car online and pay a fixed monthly price that includes all costs except gasoline or charging costs.
Carvolution currently employs 44 employees.