Finn raises 140 million euros, reaching a billion-dollar valuation. The Munich mobility startup is officially one of the unicorns from Germany.
A total of 140 million euros in fresh capital for the Munich-based car subscription startup Finn: The company announces the successful completion of a Series D financing round. This means that the mobility startup has achieved a company valuation of over one billion euros – and achieved unicorn status.
The startup Finn, founded in 2019, relies on a car subscription. It works like this: Customers choose their vehicle online, pay a monthly installment – and receive a package that bundles services such as registration, insurance, maintenance and taxes. An offer that meets high demand. And has been growing rapidly ever since. Gründerszene spoke to Maximilian Wühr, CEO and co-founder of Finn since 2023, about this.
Tailwind from the e-car boom
“We are experiencing a fundamental change in the mobility industry: flexibility, digital user experiences and easy access are becoming increasingly important,” says Wühr. The startup benefits from these trends: “The world is moving from offline to online. At the same time, many people want more and more access, but also less ownership, it’s less about ownership or status symbols. Finn also benefits from the great interest in electric vehicles.” That provides a tailwind, says Wühr.
But there are also challenges that the company has to deal with and wants to offer solutions: “On the other hand, we notice that there is volatility in fuel prices, there is geopolitical volatility and that people are unsettled.”
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100 million in equity, 40 million in debt and a SevenVentures deal
The round is oversubscribed, reveals Finn CEO Wühr in an interview with Gründerszene. The negotiations took around six months. But he also says: “It’s not an easy fundraising environment. There’s a lot of hype for AI and defense at the moment. As a startup with a mobility focus, it’s more difficult at the moment.”
The startup raised 100 million euros in equity capital in this round alone. The Series D financing round was led by Portage, an investor in fintech and mobility companies. Existing investors are also joining in: UVC Partners, which has been on board since the beginning, is significantly expanding its commitment, according to the company. Planet First Partners, Korelya Capital, White Star Capital, HV Capital and Picus Capital are also participating again.
In addition to the 100 million euros in equity, BC Partners Credit and Runway Growth Capital are jointly contributing over 40 million euros in debt capital. In addition, ProSiebenSat.1 investment arm SevenVentures is also participating in the financing round through a media-for-equity deal.
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Strong growth since founding
The company currently manages more than 50,000 active car subscriptions and generates annual recurring revenue (ARR) of over 300 million euros. The unicorn status is a milestone for the startup and, above all, “a nice recognition for the team,” emphasizes Wühr. The success is the result of “a lot of hard, collaborative work”.
Finn wants to continue pursuing his own strategy with the fresh capital: “Ultimately, we will continue to do what we are successful at – only better. We are focusing on Germany, on growth and on profitability. We are using the money as a buffer for better capitalization.”
Specifically, Finn wants to expand its vehicle fleet, invest in the technology platform and operational infrastructure in Germany and advance its expansion in Europe.
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