Taylor Wessing advises Portage on FINN’s €140 million Series D funding round

Taylor Wessing has advised global investment firm Portage as lead investor in the Series D funding round for the Munich-based car subscription provider FINN. With the newly raised capital of €140 million, FINN’s valuation rises to over €1 billion, thereby achieving unicorn status. The Taylor Wessing team was jointly led by Dr Jens Wolf and Dr Armin Bartsch, both Growth Venture Capital & Emerging Companies experts from the firm’s Berlin office.

The funding round comprises €100 million in equity and over €40 million in debt. Existing investors, including UVC Partners, Planet First Partners, Korelya Capital, White Star Capital, HV Capital and Picus Capital, also participated in this funding round.

FINN offers a flexible car subscription model. With currently over 50,000 active car subscriptions and annual recurring revenue of €300 million, FINN is one of Europe’s fastest-growing companies. The new capital is intended to strengthen international expansion and drive forward the expansion of the fleet and the technology platform.

Portage is global investment platform focused on fintech and financial services with over $6.4 billion in assets under management. With its investment in FINN, Portage continues its strategy of investing in market-leading, scalable platforms that are bringing about lasting change to established industries.

Legal advisors to Portage

Taylor Wessing Germany: Led by Dr Jens Wolf (Partner, Berlin) and Dr Armin Bartsch (Salary Partner, Berlin), Philipp Hoegl (Salary Partner, Hamburg), Philipp Seimel (Senior Associate, Frankfurt), all Growth Venture Capital & Emerging Companies; Dr Sebastian Buder (Partner), Jan-Mathias Pfleging (Senior Associate), Fabio Almurtada (Associate), all Employment, Berlin; Dr Gregor Schmid (Partner, Berlin), Thomas Kahl (Partner, Frankfurt), Nils von Reith (Senior Associate, Frankfurt), Caroline Bunz (Associate, Berlin), all IP/IT; Claus Goedecke (Partner), Felix Kokorsch (Senior Associate), both Banking & Finance, Frankfurt