Germany’s car subscription market is shifting gears, and FINN, is leading the race. The Munich-based car subscription platform has secured a massive €1 billion ABS (Asset-Backed Security) financing program, “ABS II,” backed by leading banks like Citi and Jefferies. Avellinia Capital is also increasing its commitment to FINN’s fleet financing. This funding will help the German tech company scale its fleet and drive growth in the country and across Europe.
Overall, FINN has raised €250 million in equity and has already secured over €1 billion in debt financing and leasing agreements in the past.
What is ABS financing?
It is a financing structure in which debt capital is secured by the company’s vehicle fleet. FINN will utilise “ABS II” to acquire new vehicles, strengthening its position in the German market. Additionally, the financing will serve as the foundation for building a fleet for FINN’s European expansion.
“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 program is a strong vote of confidence in FINN and the result of ongoing professionalisation and rigorous work in risk management,” commented Nikolai Schröder, COO and co-founder of FINN, on the closing of ABS II.
“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”, said Mark Collier, EMEA Head of Securitisation at Jefferies.
Why FINN’s model stands out?
Founded in 2019 by Maximilian Wühr, Nikolai Schröder, Andreas Stryz, Max Beyer, Hans-Peter Ringer, and Max-Josef Meier, FINN provides an all-inclusive car subscription service in Germany with fast availability and doorstep delivery.
Unlike traditional car ownership or leasing, FINN offers an all-inclusive, flexible car subscription model that covers insurance, maintenance, and registration, giving users a hassle-free alternative to car ownership. As consumer preferences shift towards convenience and sustainability, FINN’s approach is resonating with a growing customer base.
Competition in Germany’s car subscription market
The booming car subscription industry has drawn several major players, including Cluno, Sixt+, and LeasePlan, all competing for market dominance. With rising demand for flexible mobility solutions, the question remains—can competitors keep up with FINN’s aggressive expansion?
What’s next for FINN?
With this new funding, FINN is set to rapidly scale its fleet, enhance its tech-driven platform, and solidify its market leadership in Germany and beyond. As the car subscription model gains traction, traditional leasing and ownership models may soon face disruption.
