Car subscription firm Finn raises USD 110 mn to speed shift to electric fleet – ET Auto

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Last year Finn reported annual recurring revenue of 160 million euros, with more than 25,000 active subscriptions.

German car subscription firm Finn has raised 100 million euros (USD 109 million) to accelerate its shift towards a fully electric fleet, in a funding round that valued the group at more than USD 600 million, it said on Thursday.

The round was led by London-based Planet First Partners, a private equity firm focused on sustainable investments, Finn said.

The Munich-based company said it will use the capital raised to focus on EVs and plans to more than double the share of low-emission vehicles in its fleet to more than 80% by 2028.

Last year Finn reported annual recurring revenue of 160 million euros, with more than 25,000 active subscriptions.

The company offers 30 different car brands to customers on a subscription basis and expanded its operations to the U.S. east coast in 2022.

  • Published On Jan 12, 2024 at 10:48 AM IST

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