Swiss ICMIF member Mobiliar has this month announced it has become an investor and strategic partner of a Bern-based start-up Carvolution. Mobiliar joins other investors in helping to accelerate the growth of the start-up.
Carvolution offers a monthly car subscription and their service provides the Swiss public with an alternative to buying and leasing cars. Carvolution customers can choose from a range of around 20 models with varying size and features all offered at a monthly flat rate price and with a notice period of just one month. With their subscription service, Carvolution is looking to attract a new generation of car drivers.
Carvolution says it is redesigning mobility and, through its subscription service, the company offers an alternative to buying a car and leasing it. Customers simply select their car online and pay a fixed monthly price which includes all costs except petrol for as long as they wish to have the vehicle.
The company was created in 2018, has already taken the top spot in the Swiss market and continues to grow rapidly.
Not only has Mobiliar invested in Carvolution but they have also entered into a strategic partnership with the company. Through the cooperative’s insurance services, Mobiliar will bring added value to Carvolution customers.
Speaking about the partnership, Patric Deflorin, Head of Insurance at Mobiliar said: "We have decided to participate in the financing of Carvolution because of the various possible synergies between our two companies and because, through this participation, we can make an active contribution to the construction of this new market in Switzerland."
Olivier Kofler, the CEO of Carvolution says that the fresh capital will be used for both operational and team growth, stating “The financing will also help us to continue to invest in new talent and expand our market leadership. We want to grow rapidly and win new customers. At the same time, we want to invest even more in service and product innovations.”