FINN, a Munich-based car subscription platform, has successfully closed an Asset-backed Security (ABS) financing program called 'ABS II' worth up to €1 billion. This financing will help the company acquire more vehicles, enhancing its operations in Germany and furthering its expansion throughout Europe. Key global financial institutions, including Citi and Jefferies, are backing this initiative, reflecting confidence in FINN's professional risk management practices. The company aims to provide attractive mobility solutions while promoting sustainability through vehicle carbon offsetting and a focus on electric and hybrid models.
Nikolai Schröder, COO and co-founder of FINN, expressed confidence in their growth, stating the ABS II program is a strong vote of confidence in FINN's professionalisation.
Mark Collier of Jefferies praised FINN's unique customer-focused subscription model, emphasizing the importance of such asset-backed platforms in Europe.
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