Funding round
FINN Series B
FINN, which works in vehicle subscription and delivery services in Munich, raised $110M in a Series B round announced on 25 May 2022, led by Korelya Capital, at a $500M post-money valuation. 10 firms took part, 10 of them already investors. It is FINN's first venture round on record.
$110M
Amount raised
$500M
Post-money valuation
$390M pre-money
10
Investors
1 lead
22%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced FINN at $500M after the new money. The $110M bought investors about 22% of the company. It is FINN's first venture round on record, 3 years after it was founded in 2019. It is 29% of the $380M FINN has raised in the venture rounds on record. FINN raised again 20 months later: a Series C round of $110M in Jan 2024, at $600M post-money.
FINN's funding rounds
FINN has 3 venture rounds on record and 2 other deals. This one is highlighted.
- Series B this round 25 May 2022, led by Korelya Capital $110M$500M post-money
- Debt not a venture round 5 Jul 2023 $27M
- Series C 11 Jan 2024, led by Planet First Partners $110M$600M post-money
- Debt not a venture round 10 Feb 2025 $1.03B
- Series D 24 Jun 2026, led by Portage Ventures $160M$1.14B post-money
Investors
Who put money in
Korelya Capital led the round with 9 other firms. Korelya Capital, Keen Venture Partners, Climb Ventures and Greentrail Capital and 6 more had backed FINN before.
Lead investor
- backs 25 venture-backed companies existing investor
Also in the round
- backs 31 venture-backed companies existing investor
- backs 4 venture-backed companies existing investor
- backs 3 venture-backed companies existing investor
- backs 4 venture-backed companies existing investor
- backs 61 venture-backed companies existing investor
- HV Capital backs 124 venture-backed companies existing investor
- backs 54 venture-backed companies existing investor
- backs 49 venture-backed companies existing investor
- backs 108 venture-backed companies existing investor
Joined the board: Fleur Pellerin (Korelya Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
6 Series B rounds in Car Rental within a year either side disclosed an amount; the median was $77M, and this round was 1.4 times the median. The closest in time, other companies' Series B rounds in Car Rental:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Car Rental | 25 Feb 2022 | $93M | not disclosed | Affirma Capital |
| Car Rental | 14 Dec 2021 | $95M | not disclosed | Atomico |
| Car Rental | 20 Dec 2021 | $31M | not disclosed | Lightrock and Global Ventures |
| Kyte Car Rental | 10 Nov 2022 | $60M | not disclosed | InterAlpen Partners |
| Car Rental | 18 Sep 2021 | $55M | $213M | EastBridge Partners |
| Car Rental | 18 Aug 2021 | $104M | not disclosed | Valor Capital Group and Prosus Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did FINN raise in its Series B round?
FINN raised $110M in its Series B round, announced in May 2022.
Who led FINN's Series B round?
Korelya Capital led it, with Keen Venture Partners, Climb Ventures, Greentrail Capital, Waterfall Asset Management and White Star Capital and 4 more.
What was FINN's valuation at the Series B round?
$500M post-money ($390M pre-money).
How does it compare with other Series B rounds in Car Rental?
6 Series B rounds in Car Rental within a year either side disclosed an amount; the median was $77M, and this round was 1.4 times the median.
Did FINN raise again after this round?
Yes: a Series C round in Jan 2024 of $110M at $600M post-money.