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, Germany, May 28, 2021 /PRNewswire/ -- 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.
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.
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.
Konstantin Stenzel, CMO, +49(0)9302-6570680, email@example.com, FAAREN GmbH, Ostring 2-4, 97228 Rottendorf
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SOURCE FAAREN GmbH