Startup Company Finn Continues Growth

Finn, a startup based out of Munich that operates a platform for new car subscriptions — an alternative to buying or leasing for those who want to drive new vehicles — has raised a sizable round of growth funding, money it plans to use to expand its tech and reach, with a move into more electric vehicles and cloud-based tools to manage its services. The company, which currently manages 25,000 subscriptions in Germany and the U.S., has raised €100 million ($109-110 million), a Series C that values the company at €600 million post-money ($658 million at current rates). Planet First Partners, a European growth equity firm that says it focuses on sustainability, is leading the round. That emphasis on sustainability is translating into a goal at Finn to have 80% of its car inventory electric by 2028, from 40% today.