HomeFundingSwiss startup Carvolution receives €10.4 million to accelerate its car subscription business

Swiss startup Carvolution receives €10.4 million to accelerate its car subscription business

The Bern-based startup Carvolution just secured €10.4 million in additional funds to accelerate its growth. In addition to lead investor Redalpine, the insurance company Mobiliar, which will also become a strategic partner, has now been investing.

With its monthly subscription for cars, Carvolution offers an alternative to buying and leasing. From the Fiat 500 via the VW Tiguan to the Tesla Model 3: Carvolution customers can choose from a range of around 20 models – the right car for every need. With this usage model at a monthly flat rate price and a monthly notice period, the startup wants to reach a new generation of car users.

Founded in 2018, Carvolution today is already Switzerlands market leader and is growing rapidly. The previous financing round of the young company took place less than nine months ago.

Carvolution is also entering into a strategic partnership with its new investor Mobiliar. With their insurance services, Mobiliar will bring added value to Carvolution’s customers.

The fresh capital will be used for operational growth and team growth. Carvolution currently counts 26 employees. Olivier Kofler, the CEO of Carvolution stated: “The financing will also help us to continue to invest in new talent and expand our market leadership. We want to grow rapidly and win new customers. At the same time, we want to invest even more in service and product innovations.”

Carvolution is redesigning mobility and with its car subscription offers an alternative to buying a car and leasing it. Customers simply select their car online and pay a fixed monthly price that includes all costs except petrol. They can change the car flexibly, return it or keep it as long as they like. A disruptive all-inclusive solution with full service from a single source.

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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