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Racing on: Carvolution raises CHF 16.2m growth financing

Carvolution founders and leadership team

We are pleased to announce that our portfolio company Carvolution AG (RAC III & Redalpine Opportunity Fund) has successfully raised CHF 16.2m in a Series D financing round, bringing the total funds raised close to CHF 50m. Investors include all major existing institutional investors such as Mobiliar, Redalpine, Armada Ventures and Ringier Digital Ventures, as well as new financiers.

Carvolution will use the new funding to further expand its core business in the car subscription market. The alternative to buying and leasing a car is becoming increasingly important, and industry experts forecast a significant market share for car subscriptions by 2030. In addition, part of the funds will be used to facilitate the trading of used vehicles for broad customer groups online. To build up this new business segment, Carvolution founded the subsidiary Farie AG earlier this year.

Redalpine is impressed by the development and market position Carvolution has already achieved. Peter Niederhauser, Founding Partner of Redalpine, explains: "Carvolution has succeeded in consistently pursuing its growth figures and building a strong brand. We are convinced of the implementation of the business model and see enormous potential in the digitalisation of the used car trade."

With this financing, Carvolution's service offering can be further developed. Olivier Kofler, CEO and co-founder of Carvolution, emphasises: "We want to consistently pursue the path we have chosen and are pleased about the support of our existing and new investors. We will expand our leading position in the car subscription market with new products and services. With Farie, we will develop new business areas as we are convinced that we can simplify the buying and selling of used cars in Switzerland."

Along with the financing, Carvolution strengthens its Board of Directors by including Morten Hannesbo, a heavyweight of the Swiss automotive industry. Hannesbo has worked in the sector for over 35 years, having been CEO of AMAG for over thirteen years and Vice President of auto-schweiz for twelve years.

For more information, please visit Carvolution's website.


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