Carvolution raises CHF11m Series B funding led by Redalpine and Armada

– SWITZERLAND, Bern –  Carvolution today announced that only 9 months after the last financing round, the company raised a CHF 11m Series B to accelerate the growth of their car-subscription service. The round was led by Redalpine and Armada with the participation of new strategic investor Mobiliar and current shareholders. Mobiliar is also entering into a strategic partnership with the Bannwil based mobility startup.

Founded in 2018, Carvolution is the car subscription market leader in Switzerland and is growing rapidly. From a Fiat 500 to a VW Tiguan and Tesla Model 3: Carvolution customers can choose from a wide range of models – the right car for every need. For a monthly flat rate price with only one month notice period, Carvolution offers a truly compelling alternative to buying and leasing. It also attracts a new generation of car users, seeking flexibility and convenience.

“The opportunity to actively participate in shaping this new market in Switzerland and the many synergies between Mobiliar and Carvolution convinced us,” says Patric Deflorin, Head of Insurance at Mobiliar. With their services and network, Mobiliar will bring added value to Carvolution’s customers.

The new money from this round will be used to accelerate further growth. “We want to grow rapidly and win new customers,” says Olivier Kofler, CEO of Carvolution. The financing will also help us to continue to attract new talent and expand our market leadership. “At the same time, we want to invest even more in service and product innovation”.

For more information: https://www.carvolution.com

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