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Helvetia Venture Fund and FlixBus founders invest in car subscription solution provider FAAREN: FAAREN's software solution enables new stakeholders to enter the car subscription market.

05-19-2021 09:38 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: FAAREN GmbH

FAAREN Website

FAAREN Website

Helvetia Venture Fund, FlixBus founders (SEK Ventures GmbH) and other business angels participate in the latest seven-digit financing round for FAAREN. The start-up enables stakeholders within the industry to launch a car subscription product within hours using its software solution. FAAREN’s position is not that of a car subscription provider, rather assisting stakeholders within the automotive industry to become an independent car subscription provider taking advantage of FAAREN’s marketplace and white label software.

Rottendorf, May 18, 2021 - FAAREN GmbH enables car dealers to offer their vehicles to customers in a self-defined subscription model using a customizable white label software. In addition, FAAREN offers its partners a marketplace for car subscriptions on its own website "www.faaren.com" in order to reach a wider audience of customers. As a result, car dealers can quickly and easily open up a new business section and still remain in direct contact with customers as contractual partners.

FAAREN handles all subscription-related processes for its partners in a digital way. The company offers the technical infrastructure, the integration of a white label, customer acquisition, credit checks, payment management and other services. FAAREN's business model distinguishes itself by low capital requirements and is easily scalable.

In addition to the Helvetia Venture Fund and the FlixBus founders, other private investors are participating in the financing round. The new funds will be used to expand marketing and further advance product and software development.

Car subscription models gaining importance
With this investment, Helvetia is participating in the highly interesting car subscription market, which has happened to be able to build up momentum in recent months. "The car subscription market is growing continuously and is forcing the car dealerships and other industries to actively participate in the market. FAAREN, with its car subscription marketplace and white label software, is able to turn any company into a car subscription provider. These leverage effects make FAAREN an attractive investment", explains Michael Wieser, Managing Partner of Helvetia Venture Funds. Helvetia Venture Fund's investment in FAAREN fits perfectly into the helvetia 20.25 strategy, in which Helvetia aims at the systematic pursuit of new opportunities. "Through the investment of Helvetia Venture Fund and the FlixBus founders, we are looking forward to a promising collaboration that will ensure further growth for our new mobility software solution and launch it to the next level. This will allow us to enter the market with new partners in other segments such as manufacturers, insurance companies, banks and car rental companies, in addition to investing in our product and marketing," states Daniel Garnitz, CEO & Co-Founder of FAAREN.

Konstantin Stenzel, Chief Marketing Officer, +49 (0) 9302-6570680, konstantin@faaren.com
FAAREN GmbH, Ostring 2-4, 97228 Rottendorf

About the Helvetia Venture Fund
The Helvetia Venture Fund invests in start-ups in the InsurTech sector and in young companies whose business models have a supporting function to Helvetia's insurance business. The fund is a Luxembourg-based subsidiary of “Helvetia Schweizerische Versicherungsgesellschaft AG”. It focuses on start-ups from all over Europe, with an emphasis on the countries where Helvetia is active, namely Switzerland as well as Germany, France, Italy, Austria and Spain. The total volume amounts to CHF 55 million.

About FAAREN
FAAREN offers car dealers easy and efficient access to subscription customers. This enables car dealerships to offer their own vehicles as a subscription through FAAREN's marketplace and on their own dealership website. Customers have the option of subscribing to a suitable car online at a monthly all-inclusive fixed price. All relevant costs, except for fuel, are included in the car subscription. The booking process is completely digital and can be completed in less than five minutes. The customer can choose between flexible terms of 1 - 36 months and adjust his mileage package monthly.

FAAREN acts as a full-service provider for dealerships, organizing all processes related to the subscription. For example, the company offers its partners the technical infrastructure, integration of a white label, customer acquisition, credit checks, customer service, marketing materials and other services. In addition, car dealerships have access to a partner network which can support them with other operational tasks, such as delivery or workshop services. As a result, FAAREN partners benefit from recurring revenues, access to new groups of customers, and the development of an additional online sales channel.

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