{"id":45012,"date":"2019-02-12T12:11:53","date_gmt":"2019-02-12T11:11:53","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=45012"},"modified":"2019-02-12T09:56:25","modified_gmt":"2019-02-12T08:56:25","slug":"cluno-car-subscription-series-b","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/45012\/cluno-car-subscription-series-b\/","title":{"rendered":"$28 million for car subscription startup Cluno"},"content":{"rendered":"

The car subscription startup Cluno has raised $28 million in Series B funding. In addition to US investor Valar Ventures, existing investors Acton Capital Partners and Atlantic Labs are also participating.<\/strong><\/p>\n

After the Munich startup\u00a0Cluno raised over seven million euros in its Series A financing in April 2018, <\/a>The startup is now increasing its capital again. The startup received a total of $28 million in its Series B financing round. The round was led by Valar Ventures, Peter Thiel's New York-based VC firm. The existing investors Acton Capital Partners<\/a> and Atlantic Labs also participated in the current round.<\/p>\n

New capital to conquer the European market<\/h3>\n

Cluno plans to use the fresh capital to further expand and extend its technological lead. The company offers a digital car subscription.<\/p>\n

Nico Polleti<\/strong>, Co-Founder and CEO of Cluno, explains his approach:<\/p>\n

"Our mission is to create a compelling end-to-end experience for users and offer their own car as an all-round service. To make this possible, we are consistently digitizing all processes along the value chain."<\/p><\/blockquote>\n

In just a few minutes, you can book your own car via the app for a monthly all-inclusive package price, which will then be delivered to your desired location. The minimum rental term and notice period are only three to six months per vehicle. The Munich-based startup currently offers nearly 50 models from nine different brands across Germany, including BMW, VW, Audi, and Ford. The product range extends from small cars to SUVs.<\/p>\n

Car subscription as a fast-growing market<\/h3>\n

Andrew McCormack,<\/strong> General Partner of Valar Ventures, praises the startup\u2019s customer focus and comments:<\/p>\n

"It's remarkable that Cluno has radically simplified the complex processes involved in car financing and leasing, completely mapping them out in an app. Users receive a real-time response as part of the automated credit check. [...] Our investment is intended to accelerate Cluno's growth to become the European market leader. Both the potential and the market are enormous."<\/p><\/blockquote>\n

According to a study by Frost & Sullivan\u00a0<\/a> in a high-growth market. Car subscription models are forecast to account for approximately 101,000,000 of all car sales by 2025.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The car subscription startup Cluno has received $28 million in Series B financing. In addition to US investor Valar Ventures, existing investors Acton Capital Partners and Atlantic Labs are also participating. After raising over \u20ac7 million in its Series A funding round in April 2018, the Munich-based startup Cluno is now increasing its capital again. A total of\u2026<\/p>","protected":false},"author":22,"featured_media":45013,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5633,1],"tags":[3107,52,162,2171,2599],"acf":[],"yoast_head":"\n28 Millionen US-Dollar f\u00fcr Auto-Abo-Startup Cluno - Munich Startup<\/title>\n<meta name=\"description\" content=\"Auto-Abo-Startup Cluno sammelt 28 Mio. Dollar in der Series-B-Runde. 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