Subscriptions have been a successful business model in the tech industry. In recent years, a German company has expanded the subscription model to the auto industry by developing a car subscription service that allows users to order a new car every six to 12 months.
Founded in Germany in 2019, FINN first launched its car subscription service in the U.S. last year. The startup now serves 12 states and Washington, D.C.
FINN already has more than 1,000 users in the U.S., but the company expects that number to grow significantly this year with the addition of two new states and the launch of a new business-to-business service for companies. FINN already rolled out the B2B service in Germany, where the service is used by consultants, healthcare and construction companies
In the U.S., the B2B service is now available in all 12 states where its consumer product is offered. The first vehicles will be delivered by February 15, according to FINN.
“Traditional B2B providers in the U.S. and abroad have long underserved small- and medium-sized businesses. We recognize that businesses require a mobility solution that has quick access to inventory, high-touch customer care and is both easy to use and convenient,” Jan Hansen, SVP of B2B at FINN, said in a statement. “The introduction of B2B services to the U.S. will help us scale quickly and complement our existing consumer approach.”
FINN’s vehicle inventory includes 2,000 cars, trucks and SUVs made by Buick, Cadillac, Chevrolet, GMC, Jeep, Nissan, Tesla and Ram Trucks. Subscriptions start at about $500 per month, which includes the cost of insurance, maintenance and roadside assistance. Once a user has ordered a car on FINN’s website or app, they can expect to receive their vehicle within 72 hours, according to the company.
FINN currently employs 51 U.S. employees, most of whom work at the company’s U.S. headquarters at 386 Park Ave. S. in New York City. The company expects to hire about 20 employees this year, with most of those hires based out of the NYC office.
