One Report from Gründerszene According to the Munich Car subscription startup Cluno 12.4 million euros in fresh capital. This represents an expansion of the Series B round from last yearThe company has not commented on the amount. The capital is said to have come from existing investors, including Atlantic Labs and Acton Capital, as well as Valar Ventures, the fund of PayPal founder Peter Thiel. In total, more than 170 million euros have flowed into the Munich-based company, 140 million of which came in the form of Debt capital such as loans and credits.
“A strong sign and an award for the entire Cluno team”
The startup reports strong demand in the recent past:
“After a strong March and a quiet April due to the lockdown, new customer business increased significantly in the following months,”
so Cluno co-founder Nico Poletti to Gründerszene. As the online media outlet writes, the new financing was completed at a 65 percent higher company valuation than the original financing round in February 2019. Poletti sees this as a "strong signal and an honor for the entire Cluno team."
Cluno offers cars at a monthly package price. The rate covers all costs except fuel: maintenance, wear and tear, seasonal tires, warranty, registration, vehicle tax, fully comprehensive insurance, and vehicle inspections. The minimum term per vehicle is six months. The customer can pause the contract or change cars with three months' notice.
