German car subscription platform FINN secures up to €1B to accelerate fleet expansion

Munich-based FINN, a car subscription platform, has announced the closing of a new Asset-backed Security (ABS) financing programme, ‘ABS II’, with a volume of up to €1B.

ABS is a financing method where debt is secured by a company’s vehicle fleet. FINN will use its new ABS II programme to acquire more vehicles, reinforcing its presence in Germany and supporting its expansion across Europe.

Nikolai Schröder, COO and co-founder of FINN, on the closing of ABS II, says, “For our second ABS financing, we were able to secure the backing of several of the world’s most renowned financial institutions.”

“This financing allows us to continue pursuing our ambitious growth plans and offer even more attractive deals to our customers. At the same time, this programme is a strong vote of confidence in FINN and the result of ongoing professionalisation and rigorous work in risk management.”

Investors supporting FINN

Global banks including Citi and Jefferies, are providing the financing, while Avellinia Capital is expanding its commitment to FINN’s fleet financing.

Mark Collier, EMEA Head of Securitisation at Jefferies, says, “Jefferies, as part of its strong focus on asset-backed platforms in Europe across its Fixed Income and Banking franchises, is proud to have been able to support FINN in the next phase of its growth as a unique provider of individual mobility via its customer-focused subscription model.”

FINN car subscription

Founded in 2019 and currently led by CEO Maximilian Wühr, FINN is an independent car subscription platform offering vehicles from over 30 brands with an all-inclusive service covering insurance, financing, registration, taxes, and maintenance.

The company provides fast delivery and a broad selection of electric and hybrid models, aiming to simplify access to sustainable mobility. 

FINN also offsets the carbon footprint of all its vehicles by supporting certified climate protection projects. With 300+ employees, the company operates over 25,000 vehicles and has previously raised €250M in equity.

In December, the company announced that CFO and co-founder Max Beyer stepped down from his role to focus on his family. Co-founder and COO Nikolai Schröder took over as interim leader, while Beyer remains a shareholder.