FINN — In pole position for new car subscription…
… by shaking up traditional car ownership models
The first thing you’re probably expecting from this “Why We Invested” piece is for it to be about how attractive the car subscription market is, catering to a new generation of consumers, and how FINN, our latest investment in Germany, is best placed to win. Hold my weizen beer, we’ll get to all of that.
A team with torque 🏎
From deck to deal, we’ve been nothing short of impressed with the team.
In FINN, we find Max-Josef, a repeat entrepreneur, who wanted to make a dent in the bumper of a €1 trillion market. In steering the company towards making the subscription and access to new cars easier, he is joined by stellar co-drivers Max, Andreas, Nikolai, Maximilian and a team with the right experience and depth that really excites i̶n̶v̶e̶s̶t̶o̶r̶s̶ passengers like us.
From user and fleet acquisition to B2B to ops to the financial and legal team, the wider team works together like an F1 pit crew to keep FINN’s engine running seamlessly. (I know nothing about Formula 1 but Netflix helps…)
Trillion dollar market … with a T 🤯
FINN’s subscription solution in a trillion dollar fragmented retail market with the lowest e-commerce penetration rate is a breath of fresh Wunder-Baum air.
Traditional car buying is a tedious process with 99% of people leasing, financing or outright buying their car offline. Besides, who owns anything these days anyway?!
Insert debate about inflation and arguments with your parents about “generational shifts in wealth, owning a house” etc. etc.
Ownership is a long-term commitment and can be costly in an age where subscriptions have become, well, the norm. It’s because of this friction (and others) that BCG estimates the market for car subscriptions in Europe and the US could reach $30–40 billion by 2030, catering to a new generation of consumers conscious of their budget, changing car needs and the environment (more on that below).
An all-inclusive subscription 🤟🏼
Through direct relationships with some of your favourite brands, FINN provides you with an ample choice of new cars with various term options in an all-inclusive subscription price. The only thing not included in the price you see online or in the app is the cost of fuel or charging. No down-payment, no hidden fees. FINN even drops the car off at your doorstep and picks it up once your subscription expires. Wait, did we mention the whole booking process also takes 5 minutes?
For consumers and businesses alike, FINN makes new car access convenient, flexible and sustainable — 30% of their fleet is electric and FINN offsets emissions from all vehicles across its portfolio.
We’re excited to drive off into the ☀️ with FINN. Queue romantic driving playlist.
