Frankfurt am Main, 31st of May 2022 – Heliad Equity Partners GmbH & Co. KGaA (ISIN: DE000A0L1NN5) welcomes FINN to its portfolio by participating in the $110M Series B round led by Korelya Capital along with Keen Ventures, Climb Ventures, and Waterfall Asset Management. Existing investors such as White Star Capital, HV Capital, Heartcore Capital, UVC Partners, and Picus Capital also participated in the round. FINN plans to use the funding to support its U.S. expansion and to strengthen its leadership position in Europe.
With the new Series B funding amount, FINN will continue to bring its all-inclusive car subscription business to the mass-market, revolutionizing the new car experience. Furthermore, the flexibility and easiness of booking car subscriptions via FINN serves as a catalyst for electric vehicles. One third of FINN’s fleet is already fully electric, and the share is quickly growing. The company also announced the opening of its U.S. headquarters in New York City and will offer its car subscriptions in California and Florida later this year. In 2022, FINN is on track to have 25,000 global subscribers, while the company is transforming the new vehicle experience through its innovative car subscription model – making it fun, sustainable, and convenient. As consumers shift from offline to online and favor flexibility and ease-of-use over ownership, FINN provides the ideal solution to the evolving automotive customer.
The car subscription company is now valued at more than $500M. This financing comes on the heels of up to $200 million in asset-backed security (ABS) funding the company raised for U.S. market expansion from Waterfall Asset Management in March 2022. With its $520 million EU ABS raised from Credit Suisse and Waterfall Asset Management in December 2021, this new financing brings FINN’s total capital raised to $830 million within the past six months. Besides supporting its growth, FINN will use its funding to advance its core technology and accelerate hiring across its global teams.
FINN is a car subscription platform united by its purpose to make mobility fun and sustainable by providing a flexible, fun and sustainable way to choose the car that best fits its customers’ lifestyles. The established car subscription provider offers complete transparency in pricing, as well as comprehensive insurance, maintenance and 24/7 customer and roadside support. What is more, the company facilitates the transition to drive electric vehicles, and compensates the CO2 for every mile driven for all its cars. FINN makes driving a car as easy as purchasing shoes online: with just a few clicks, customers can subscribe to a car that will be delivered straight to their door in just a few days or weeks.
For more information, visit www.finn.auto.
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