German car subscription company finn.auto has landed a €20 million Series A round. The new funding came from White Star Capital, an early investor in TIER Mobility, and the Zalando co-CEOs Rubin Ritter, David Schneider and Robert Gentz. All existing investors joined in again, too.
In addition to offering the typical car subscription service, in which cars are plentiful and renting is flexible, the Munich-based startup has put sustainability at the forefront. For each car subscription, the company offsets the CO₂ emissions through planting trees via ClimatePartner.
The platform has an e-commerce feel to it. Subscribers can browse cars online, and whichever one they order will be delivered to their door. Indeed, Nicholas Stocks of White Star Capital says the startup could be “the Amazon of the automotive industry.” A carbon-neutral Amazon, that is.
Founded in 2019, finn.auto now has about 1,000 car subscriptions and says it’s partnering with manufacturers. The fresh capital will help the company continue scaling in Europe and the US.
Photo: the finn.auto team