Mobiliar is providing Carvolution, a Swiss car subscriptions startups, with 50 million Swiss francs to expand its fleet of vehicles.
Carvolution redesigns mobility and offers with its car subscription an alternative to buying and leasing a car since 2018. As a pioneer in the subscription market, the now 40 heads strong startup has secured the pole position. Several hundred subscription cars are already on the road in Switzerland.
While the classic automotive industry is struggling with plant closures and sluggish sales figures due to the global corona pandemic, the car subscription market is experiencing an upswing. Carvolution was able to record growth of over 210 % compared to the previous year and today sells seven times more car subscriptions in a single day than during the lockdown.
In uncertain times, customers appreciate the flexibility and cost transparency that a subscription car offers. This is precisely why Carvolution and the car subscription have become a popular alternative for buying or leasing a car.
Olivier Kofler, CEO of Carvolution, says:
The expansion in the area of vehicle financing by Mobiliar confirms the great confidence in the existing cooperation. This important development step enables Carvolution to make vehicle procurement more flexible, strengthen existing cooperations with partners in this area and further increase the overall attractiveness of our offer.
Together with other institutional and private investors, Redalpine had already participated in a financing round of Carvolution AG in November 2019, in which the company was provided with a total of over 11 million Swiss francs.
