secures up to CHF 200 million | .ch
Summary
None Carvolution, the Swiss market leader for car subscriptions, secures up to CHF 200 million for its fleet expansion one of Switzerlands largest start-up financing deals. This takes Carvolutions fleet development and the related financing to a new scale, as the young company from Oberaargau has succeeded in attracting international partners whilst maintaining its growth trajectory.Bannwil, January 2024 A couple of months ago, Zuger Kantonalbank committed funds of 24 million Swiss francs for the expansion of the fleet. With the beginning of the year, another, considerably larger asset backed-financing round follows, securing Carvolution as far as additional 200 million Swiss francs.Olivier Kofler, CEO and co-founder of Carvolution, underlines the importance of this deal: Financing is a key driver of our business model. To keep up with this trend and to satisfy the increasing demand, we need strong partners and good fleet financing solutions. The 200 million Swiss francs financing is both an opportunity and a great encouragement for the young company to consistently continue the expansion of its profitable growth path.The majority of the funding comes from Barclays, an international bank from the UK.