The Munich-based startup Finn Auto has secured a considerable sum with its Series A funding at an early stage. The company, founded in 2019, has won Mobility companies White Star Capital and Zalando Co-CEOs Rubin Ritter, David Schneider and Robert Gentz are well-known new investors for the 20 million financing. Existing investors from the Seed financing – HV Capital, Picus Capital, Heartcore and UVC Partners – remain on board.
Nicholas Stocks, General Partner at White Star Capital, sees good development opportunities for the startup:
"We see a great opportunity to set new standards in the automotive sector with a modern customer experience. This is precisely where Finn Auto is excellently positioned with its simple, flexible, and sustainable offering."
Finn Auto focuses on simple processes as well as sustainable aspects
The car subscription platform aims to automate all processes related to car fleets and customer interactions as much as possible. This will enable the startup to scale its business model effectively. Max-Josef Meier, CEO and founder of Finn Auto, explains:
"With Finn Auto, mobility with your own car is as easy as buying shoes online. We already offer a wide selection of different vehicle brands, whose cars can be subscribed to online on our platform in just five minutes and with flexible terms. Delivery is convenient, right to your door."
Sustainability is also a key focus for former Stylight founder Meier in his new company. The mobility startup offsets the CO₂ emissions of its vehicles, which, according to Finn Auto, makes its subscribers' journeys climate-neutral. In addition, the company is expanding its fully electric vehicle fleet and supporting regional climate protection and development projects.
Current figures from the mobility startup demonstrate initial success: By November 2020, just under a year after its founding, more than 1,000 car subscriptions had already been concluded. Furthermore, a ranking by the consumer portal Trustpilot demonstrates high customer satisfaction. The rating from car subscription customers is 4.8 stars – one of the best rankings in the industry. The startup has also convinced other automobile manufacturers, thereby expanding its offerings.
