P+P advises Cluno on series A financing round
Leading German car subscription provider, Cluno, has completed a series A financing round of EUR 7 million. Lead investor is Acton Capital Partners, a Munich-based, international venture capital fund. The previous investor Atlantic Labs also re-invested in this financing round.
Founded by Christina Polleti, Nico Polleti and Andreas Schuierer, Cluno offers a new form of automobility: car subscriptions. Customers can easily book their cars online via www.cluno.com and pay a fixed, monthly package price, which includes everything except refueling. After 6 months, customers can switch to another car at any time, pause or stop their use. Cluno is available throughout Germany and works with German and international car manufacturers and their dealers. Likewise, Cluno's network includes banks and leasing companies as refinancing partners.
The founding team has many years of experience in the automotive and Internet sectors and previously established the online car sales platform easyautosale and successfully sold it to Autoscout24 in 2015.
P+P Pöllath + Partners advised Cluno with the following team:
- Tobias Jäger (counsel, lead, VC)
- Sebastian Rosentritt (associate, VC)
- Andrea Streifeneder (associate, VC, all Munich)
P+P Pöllath + Partners has advised Cluno since its foundation, including on the previous financing round with Atlantic Labs. In addition, P+P provided counsel to the founders in their previous startup, easyautosale, from the first financing round up to exit.