finn.auto secures €20m Series A led by White Star Capital

White Star Capital and Zalando co-CEOs back the sustainability-focused car subscription platform as new investors.

With the announcement of a €20m Series A funding round finn.auto has taken another major step towards its mission to make mobility fun and sustainable by building the most popular car subscription platform in the USA and Europe.

The addition of venture capital firm White Star Capital, an early investor in startups such as TIER Mobility and CLARK, and the Zalando co-CEOs Rubin Ritter, David Schneider and Robert Gentz alongside the commitment of all existing investors – HV Capital, Picus Capital, Heartcore Capital and UVC Partners – is a strong sign of confidence in its concept.

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Alongside providing easy and flexible access to vehicles, the finn.auto team have placed sustainability as a core offering. For each car subscription, the company is offsetting the CO₂ emissions of its vehicles so that all subscribers can drive their cars climate-neutral. In addition, finn.auto is expanding its range of fully electric vehicles and is supporting selected regional climate protection and development projects.

By November 2020, just under a year since the company launched, finn.auto had secured more than 1,000 car subscriptions and a 4.8 rating on trustpilot, one of the strongest in the industry. In addition, finn.auto has recently partnered with some of the world’s leading car manufacturers and significantly expanded its range of products. The central building block for the success of the Munich-based company is its technology platform which is capable of automating processes along the entire value chain. This scalability will enable finn.auto to bring hundreds of thousands of climate-neutral vehicles to the streets.

„We are delighted to bring such strong investors on board and that our existing investors are doubling-down on their confidence with this new  round. This shows that we are on the right track with our ambition to bring an ecommerce like user experience to the car industry and to pioneer climate-neutral car subscriptions,” explains Max-Josef Meier, CEO and founder of finn.auto, adding: „With finn.auto, mobility with your own car becomes as easy as buying shoes on the Internet. The cars on finn.auto – many of which are immediately available – can be ordered online at flexible terms, in under five minutes, and will be directly delivered to your doorstep.”

Nicholas Stocks, General Partner at White Star Capital sees excellent development opportunities: „There is a huge opportunity globally to streamline outdated customer experiences in the automotive retail space and become the Amazon of the automotive industry. This is something finn.auto is excellently placed to capitalise on with its offering of convenience, flexibility, value and sustainability.“

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About finn.auto

finn.auto is the platform for flexible and climate-neutral car subscriptions. The CO2 emissions of all finn.auto vehicles are compensated in certified climate projects. With finn.auto, mobility with your own car becomes as easy as buying shoes on the Internet: With just a few clicks you can subscribe to a car that is quickly available – without having to worry about insurance, registration, taxes or maintenance. finn.auto was founded in 2019 by Max-Josef Meier (former founder of Stylight.de). The mission: Make mobility fun and sustainable by building the most popular car subscription platform in the USA and Europe.

About White Star Capital

The investment firm White Star Capital supports founders and start-ups worldwide in building industry-leading companies. With offices in New York, London, Paris, Montreal, Toronto, Tokyo and Hong Kong, the company works closely with founders to help them scale internationally from Series A upwards.

About Robert Gentz, Rubin Ritter, David Schneider

Robert Gentz, born in 1983, is a co-founder and co-CEO of Zalando. As a member of the Management Board, he is responsible for the areas of marketing, sales and human resources. David Schneider, born in 1982, is also a co-founder and co-CEO of Zalando and as a member of the Management Board is responsible for the product range. Rubin Ritter, born in 1982, has been co-CEO of Zalando since 2010 and is responsible for strategy and communication.

(source)

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