Seven-figure sum for Faaren

The Rottendorf-based start-up offers companies everything to do with renting out cars on a subscription model. Faaren has now raised a seven-figure sum in a recent financing round, with the Helvetia Venture Fund also participating.

Faaren offers a white label solution for car companies and dealers so that they can offer their cars on a subscription model and provides an online marketplace. The start-up has now successfully completed a financing round and raised a seven-figure sum. The backers are the Helvetia Venture Fund and business angels such as the Flixbus founders and other investors.

"With the participation of the Helvetia Venture Fund, we can look forward to a promising collaboration that will take the further growth of our highly scalable software solution to a new level," says Daniel Garnitz, founder of Faaren. The money will flow into the product and marketing, but "new partners in other segments such as manufacturers, insurance companies, banks and car rental companies" will also be given access to the market.

Faaren handles all subscription-related processes for its customers, including credit checks, customer service and technical infrastructure in addition to the white label solution. It was founded in 2018 and has to hold its own against competitors such as Vive la Car, Like 2 Drive and Cluno.