FINN, a Munich, Germany-based car subscription provider, raised €100m in Series C funding.
The round was led by Planet First Partners, with participation from HV Capital, Korelya Capital, UVC Partners, White Star Capital and Picus Capital. The round increased FINN’s valuation to more than USD600m. Nathan Medlock, Managing Partner at Planet First Partners, will join FINN’s Board.
The company intends to use the funds to accelerate growth in the electric car sector, with the goal to more than double the share of low-emission vehicles in its fleet from 40% to over 80% by 2028.
Led by Maximilian Wühr, CEO, FINN provides a car subscription model that is contributing to the adoption of electric mobility by offering customers the opportunity to use electric cars flexibly in their everyday lives – without risks such as technological obsolescence or the development of residual values associated with ownership.
Since 2019, customers have been able to subscribe to a car from over 30 brands and models. The car is delivered directly to their doorstep in just a few days and comes with an end-to-end carefree package, including insurance, financing, registration, taxes and maintenance. FINN expanded to the East Coast of the USA in 2022.
Headquartered in Munich, the company has offices in New York City.
FinSMEs
11/01/2024