Munich-based car subscription platform FINN has announced the successful closing of its second Asset-Backed Security (ABS) financing program, ABS II, securing up to €1 billion. The funding round is backed by global financial institutions, including Citi and Jefferies, alongside continued support from Avellinia Capital. This significant milestone will enable FINN to expand its vehicle fleet and accelerate its presence in Germany and across Europe.

Financing Model and Growth Strategy

The ABS financing model allows FINN to secure debt against its vehicle fleet, ensuring financial flexibility and supporting its growth strategy. With this latest funding, the company aims to enhance its service offerings and provide customers with more attractive mobility solutions. COO and co-founder Nikolai Schröder emphasized that securing backing from world-renowned financial institutions reflects the strong confidence in FINN’s business model and its long-term vision.

Leading the Car Subscription Market

The company has positioned itself as a leading player in the European car subscription market by offering an all-inclusive service covering insurance, financing, registration, taxes, and maintenance. Founded in 2019 and led by CEO Maximilian Wühr, FINN provides vehicles from over 30 brands, focusing on electric and hybrid models to promote sustainable mobility. The platform aims to simplify car ownership by offering fast delivery and flexible subscription plans tailored to customers' needs.

Commitment to Sustainability

In addition to its core service, FINN actively offsets the carbon footprint of all its vehicles by supporting certified climate protection projects. This approach aligns with the company's commitment to environmental sustainability while ensuring customers benefit from a hassle-free car subscription experience. With over 25,000 vehicles under management and a workforce exceeding 300 employees, FINN has rapidly grown into a key player in the sector.

Investor Confidence and Market Expansion

The new ABS II financing follows previous fundraising efforts, including €250 million in equity investments. Investors remain confident in FINN’s ability to innovate and scale, particularly as demand for flexible mobility solutions continues to rise. Mark Collier, EMEA Head of Securitisation at Jefferies, highlighted the firm’s commitment to supporting asset-backed platforms in Europe, underscoring FINN’s unique market position.

Leadership Transition

The company has also undergone leadership transitions, with co-founder and CFO Max Beyer stepping down in December to focus on his family. Nikolai Schröder, who currently serves as COO, has taken over as interim leader while Beyer remains a shareholder. Despite this change, FINN remains focused on executing its ambitious expansion plans and strengthening its presence in key European markets.

With ABS II in place, FINN is well-positioned to scale operations and enhance customer experience by offering more vehicle options and better pricing. The company’s success in securing funding from top-tier financial institutions highlights its financial resilience and strategic vision. As FINN continues to redefine car ownership through its subscription-based model, it stands at the forefront of the evolving mobility landscape in Europe.