#Interview
“In the last seven years, Finn has developed from a startup into Germany’s leading provider of car subscriptions,” says founder Maximilian Wühr. In recent years, more than 350 million euros have flowed into the unicorn.
The Munich mobility company founded in 2019 Finn recently became a unicorn. The company, which had previously been considered a Soonicorn for some time, relies on car subscriptions and now has annual recurring revenue (ARR) of over 300 million euros.
Investors such as Portage, BC Partners, Runway Growth Capital, SevenVentures, UVC Partners, Planet First Partners, Korelya Capital, White Star Capital, HV Capital, Picus Capital and Keen Venture Partners have invested more than 350 million euros in Finn in recent years.
In an interview with deutsche-startups.de, founder Maximilian Wühr speaks in detail about the state of affairs at Finn, which currently employs 400 people.
How would you explain Finn to your grandmother?
I would say: We make mobility easier. Instead of buying or leasing a car, our customers can subscribe to a car flexibly and conveniently via the Internet. You choose your vehicle online, we take care of insurance, registration, maintenance and much more. This means people can use a car without having to make a long-term commitment.
Was this your concept from the beginning?
The basic idea has remained the same since it was founded in 2019. Of course, we have continuously developed the model, improved our technology and expanded our offering. But we didn’t have a pivot. From the very beginning, our vision was to give people easy, flexible and digital access to their car with a car subscription.
How has Finn developed since it was founded?
Over the past seven years, Finn has developed from a Munich startup into Germany’s leading provider of car subscriptions. Since our last round of financing, we have been able to more than double the number of our car subscriptions from around 25,000 to over 50,000. Our annual recurring revenue (ARR) is now over 300 million euros. We have also made important progress in profitability, technology and operational excellence.
Most recently you were able to collect another 140 million. Why do you need all that money?
Above all, the financing helps us to position Finn even more solidly in the long term and to strengthen the foundation for the next growth phase. With the improved capitalization, we are creating the conditions to scale our business more sustainably and further optimize our financing structure. At the same time, we are making targeted investments in our platform, our operational infrastructure and the further development of the customer experience.
In the course of the last investment round, you also became a unicorn. What does this status mean to you?
Unicorn status was not a goal we actively worked towards. For me, it is above all a confirmation of what our team has built over the past few years. Of course it is a special milestone.
Where will Finn be in a year?
Our focus is clearly on further expanding our leadership position in Germany and creating the basis for further growth in Europe. We want to further scale our platform, improve our offering and convince even more people of flexible mobility.
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