The Helvetia Venture Fund is participating in FAAREN’s latest round of financing in order to invest in Germany’s first car subscription marketplace. With its customizable white-label software, the start-up allows car dealers to offer their vehicles to customers on the basis of a subscription model the dealers themselves are free to define. Via its own website, FAAREN also offers its partners a marketplace for car subscriptions, helping them reach a broader target market with their offerings. This provides car dealers with an opportunity to tap a new business area quickly and easily, while still maintaining direct contact with their customers.
FlixBus founders (SEK Ventures GmbH) and other private investors are taking part in the financing round alongside the Helvetia Venture Fund. FAAREN will use the proceeds from the financing round to expand its marketing activities and continue evolving its product and software development.
Car subscription models on the up and up
The investment marks Helvetia’s entry into the highly attractive car subscription market, which has gained a lot of momentum, especially in recent months. The focus of interest is primarily on consumers’ constantly evolving behaviour when it comes to mobility. "Demand for car subscriptions is increasing unabated. This investment grants us access to the world of future mobility", explains Philipp Stieg, Head of Business Development at Helvetia Germany. The Helvetia Venture Fund’s investment in FAAREN dovetails perfectly with the helvetia 20.25
strategy, under which Helvetia also plans to systematically exploit new opportunities. "Thanks to the Helvetia Venture Fund’s investment, we can look forward to a promising partnership going forward – one that will take our highly scalable software solution to the next level in terms of growth. It will enable us not only to invest in product development and marketing, but also to offer market access to new partners from other segments, such as manufacturers, insurers, banks and car rental firms", says Daniel Garnitz, CEO and co-founder of FAAREN.
This media release is also available on our website www.helvetia.com/media