FINN, a Munich-based car subscription platform, has announced a significant milestone in its growth journey, raising €100M in a Series C funding round. This latest investment values the company at over $600M and was led by Planet First Partners.
FINN plans to use the funds to expand its electric vehicle sector, aiming to increase the share of low-emission vehicles in its fleet from 40% to over 80% by 2028. This move aligns with the company’s commitment to sustainability and its goal to contribute to a greener future.
Leadership’s Vision for Growth
Maximilian Wühr, CEO and co-founder of FINN, expressed excitement about the new capital from Planet First Partners and the continued trust of existing investors. He emphasized the company’s focus on expanding its sustainability strategy and accelerating growth through the e-mobility transition.
A Platform for Easy Car Subscriptions
FINN, led by Maximilian Wühr, offers an independent platform for car subscriptions from over 30 brands. The company simplifies the process of subscribing to a car, delivering it directly to the customer’s doorstep within days. The platform also handles insurance, financing, registration, taxes, and maintenance, offering a hassle-free service.
Addressing Climate Targets
Wühr highlighted the need to accelerate the shift to electric mobility to achieve international climate targets. He believes that FINN’s full-service and carefree subscription model is the perfect accelerant for both consumers and companies.
Funding Climate Action
The german company supports certified climate protection projects, offsetting the carbon footprint of every vehicle in its fleet, regardless of the drive type. This initiative is part of the company’s broader commitment to sustainability.
Growth and Market Impact
In the last year, FINN achieved significant growth, reaching €160M in Annual Recurring Revenue (ARR) with over 25,000 active subscriptions. The B2B fleet business, accounting for half of the ARR, was a key growth driver.
Nathan Medlock, Managing Partner at Planet First Partners, emphasized the importance of electric vehicles in decarbonizing society and praised FINN’s subscription model as an innovative solution to assist consumers in transitioning to electric vehicles.
Leading the E-Mobility Transition
The Series C funding round positions the company as a leader in the car subscription market, particularly in the electric vehicle sector. With its innovative approach and commitment to sustainability, FINN is set to play a significant role in the global transition to electric mobility.