Finn.auto gets 20 million euros

Car leasing is a thing of the past. Max-Josef Meier's start-up Finn.auto offers car subscriptions instead and received 20 million euros in a second financing round.

After bicycles on subscription, cars are now also available on subscription: for one to twelve months for rent, with repairs, insurance and vehicle tax. Delivered to your doorstep. Finn.auto's concept seems to be convincing, and the start-up has raised 20 million euros in its second round of financing.

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

According to its own information, the start-up currently owns 75 vehicles. The all-inclusive offer is currently available for a Fiat 500 for 279 euros per month, while a Tesla Model 3 costs as much as 899 euros. "By November 2020, we had already put over 1,000 car subscriptions on the road," founder Max-Josef Meier told Gründerszene. He is no stranger to the start-up scene: in 2008, Meier successfully founded the shopping platform Stylight, which is now owned by ProSiebenSat 1.

So far, the market for cars on subscription is still small, with the biggest competition being the Munich start-up Cluno, which has almost the same concept. However, cars can only be rented for six months or more. The company did not disclose the amount, but Gründerszene estimates it at 12.4 million euros. Cluno raised 25 million euros in last year's financing round.