Finn.auto gets 20 million euros

Car leasing was yesterday. Instead, Max-Josef Meier's start-up Finn.auto offers cars on a subscription basis and received 20 million euros in a second financing.

After the bicycle in the Abo comes now also the car in the Abo: for one to twelve months to the rent, with repair, insurance and vehicle tax. The car is delivered to the doorstep. The concept of Finn.auto seems to be convincing, in its second round of financing, the start-up has raised 20 million euros.

The largest share comes from the US venture capital firm White Star Capital. Also convinced are the co-CEOs of Zalando David Schneider and Robert Gentz, as well as Rubin Ritter, who just announced his retirement for 2021. Already in a seed round, the start-up has received 8.8 million euros from Picus Capital and HV Capital.

The start-up says it currently owns 75 vehicles. The all-inclusive offer is currently available for a Fiat 500 for 279 euros a month, a Tesla Model 3 costs as much as 899 euros. "By November 2020, we could already have over 1,000 car subscriptions on the road," founder Max-Josef Meier told Gründerszene

So far, the market for cars on subscription is still small, the biggest competition so far is the Munich-based start-up Cluno, which is conceptually almost the same. Cars can be rented here, however, only from half a year. In September, the company raised additional funding, but Gründerszene estimates the amount at 12.4 million euros. In last year's financing round, Cluno raised 25 million euros.