Mobiliar is allocating 50 million Swiss francs to Carvolution, the Swiss market leader in car subscriptions, to expand its fleet of vehicles. This financing will enable Carvolution to further accelerate its current growth.
Carvolution will be granted CHF 50 million to meet the growing demand for car subscriptions. By setting up its own financing solution for its vehicle fleet, the start-up company from Bannwil in Canton Bern will thus be able to further expand its range of services and make it even more versatile. The increase in car subscriptions in the wake of the Corona pandemic continues to grow, and demand is increasing daily.
Car financing brings flexibility, growth and attractiveness
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 acquisition more flexible, to strengthen existing cooperation with partners in this field and to further increase the overall attractiveness of our offer”.
Patric Deflorin, Head of Insurance at Mobiliar, explains: “With the car subscription, Carvolution is following the trend of our time. As a pioneer of car subscriptions, Carvolution has proven the concept’s full potential. With its investment, Mobiliar is supporting the growth of new mobility concepts”.
Together with other institutional and private investors, Mobiliar had already participated in a financing round of Carvolution AG in November 2019, during which the company was provided with a total of more than 11 million Swiss francs.
The car subscription is on the road to success, also thanks to Coronavirus
While the classic car industry is struggling with plant closures and sluggish sales figures due to the global corona pandemic, the car subscription market is booming. Carvolution was able to record growth of more than 210% compared to the previous year and now sells seven times more car subscriptions in a single day than during the lockdown.
In these uncertain times, customers appreciate the flexibility and cost transparency offered by a car subscription. This is precisely why Carvolution and the car subscription have become a popular alternative to buying or leasing a vehicle. With Carvolution subscription offers, customers* benefit from a complete, worry-free solution for their car.
Image (c) Carvolution