Carvolution, a Bannwil, Switzerland-based car subscription company, raised CHF16.2M in Series D funding.
The round was led by Redalpine. Investors included all major existing institutional investors as well as new ones. Previous financiers include Mobiliar, Redalpine, Armada Ventures and Ringier Digital Ventures.
The company intends to use the funds to further expand its core business in the car subscription segment. Part of the funds will be used to simplify the buying and selling of used cars for a broad range of customers by shifting it to online.
Led by CEO Olivier Kofler, Carvolution provides a car subscription platform that allows people to select a car, book it online, have it delivered and stay flexible. Everything is included in the monthly fixed price including insurance, registration, taxes, maintenance and tyres. The carefree package includes full service from a single source: they take care of the paperwork and customer support works via the app.
The company also founded the subsidiary Farie AG at the beginning of the year.
FinSMEs
14/10/2022