Keen Venture Partners, Climb Ventures, Greentrail Capital, and Waterfall Asset Management are also participating in the financing round. Existing investors White Star Capital, HV Capital, Heartcore Capital, UVC Partners and Picus Capital are injecting fresh capital into Finn. The company has already raised a total of over 630 million euros from investors.
The Munich startup offers cars on a subscription basis, including all additional costs such as tax, insurance, tires, and maintenance. Customers only have to cover the costs for fuel or electricity. For example, an Opel Corsa currently costs €369 per month, including 1,000 kilometers. A Tesla Model 3 is available for €1,029.
Finn: Use a car instead of owning one
“Customers expect an e-commerce experience, and the auto industry is the largest retail market in the world with the lowest e-commerce penetration rate of any market,”
says Max-Josef Meier, CEO and co-founder of Finn, Techcrunch.
“This means that the large multi-brand platforms – the Amazon of new cars – are being built right now.”
According to Finn, customers prefer to use products and services rather than own them. Meier says:
“This applies not only to the car trade, but can also be observed in other markets: Netflix, Spotify and Klarna are examples of this trend.”
Subscriptions also lower the barrier to entry for trying out new electric vehicles, says Meier.
