Carvolution raises additional funds from Zuger Kantonalbank for further growth. The start-up from Bannwil is using the financing line of 24 million Swiss francs to expand its modern vehicle fleet.
Bannwil, July 2023 - The young company Carvolution from the Upper Aargau has agreed a financing line of 24 million Swiss francs with Zuger Kantonalbank. This facility marks a significant milestone for the market leader in car subscription. "The additional funds will enable us to expand our modern vehicle fleet and thus achieve further growth in our core business. We are pleased to have Zuger Kantonalbank as a competent partner at our side who shares our vision and is also committed to a long-term partnership," says Olivier Kofler, co-founder and CEO of Carvolution.
Theo Aeschlimann, Corporate Client Advisor and Martin Neuhaus, Head of Corporate Client Advisory at Zuger Kantonalbank are convinced of the company's business model and operational management: "Alternatives to car purchase and leasing are becoming increasingly important. Carvolution's car subscription concept has proven itself in recent years and offers further growth potential. We are looking forward to a close and cooperative partnership."
Like Zuger Kantonalbank, Carvolution is also making forward-looking investments in its business model and takes the issue of climate protection seriously. With options for CO2 compensation and a large selection of electric vehicles, the offer is oriented towards an increasing customer need.
The financing solution from Zug Cantonal Bank is a strong signal to the start-up community and underlines the claim of the leading financial institution in the Zug economic region to position itself even more strongly as a financial services provider for companies and their owners.