Munich-based car subscription provider FINN has announced the completion of its second asset-backed security (ABS) financing programme, ABS II, worth up to €1 billion. This initiative aims to support vehicle acquisitions and strengthen the company’s presence in Germany while facilitating expansion across Europe. The funding marks a strategic step in FINN’s objective to offer flexible mobility solutions to a growing customer base. As the market for car subscriptions grows, companies like FINN are positioning themselves to meet evolving consumer demand for alternative vehicle ownership models.
FINN previously raised €250 million in equity and has steadily expanded its fleet to over 25,000 vehicles. Compared to its prior financing efforts, this latest ABS funding is significantly larger, reinforcing its commitment to long-term growth. The company has also introduced a strong focus on sustainability by offering electric and hybrid models while offsetting the carbon footprint of its fleet. With key financial institutions supporting its expansion, FINN aims to further enhance its vehicle offerings and attract more customers across Europe.
Which investors are involved in FINN’s latest financing?
A consortium of major financial institutions, including Citi and Jefferies, is backing the ABS II programme, with Avellinia Capital increasing its commitment to FINN’s fleet financing. This level of financial support reflects investor confidence in the company’s subscription model and future potential. Asset-backed securities serve as a structured financing method where investors provide capital in exchange for securities secured by FINN’s vehicle portfolio.
“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.” – Mark Collier, EMEA Head of Securitisation at Jefferies
What does FINN’s car subscription service offer?
Founded in 2019, FINN provides a car subscription service that includes insurance, financing, taxes, and maintenance. Customers can select vehicles from over 30 brands, with an emphasis on electric and hybrid models. The company aims to simplify vehicle access through a digital-first approach, offering quick delivery and flexible subscription terms.
To address sustainability concerns, FINN offsets the carbon emissions of its fleet by investing in certified climate protection projects. This approach is in line with the industry’s broader shift toward sustainable mobility solutions. As consumer demand for flexible car access increases, FINN continues to refine its offerings to appeal to a wider audience.
The company recently underwent a leadership change, with co-founder and CFO Max Beyer stepping down to focus on personal matters. Fellow co-founder and COO Nikolai Schröder has taken on interim leadership responsibilities while Beyer remains a shareholder.
As competition in the car subscription sector rises, securing large-scale financing allows FINN to remain competitive. The growing preference for subscription-based car usage, particularly among urban consumers, highlights the evolving landscape of vehicle ownership. With this latest funding round, FINN is positioned to expand its fleet and improve its service offerings while continuing to develop its presence in the European market.
