Redalpine, Armada lead CHF 11m round for Carvolution

Carvolution intends to use the fresh capital to expand its headcount and invest in product development, according to a statement.

Swiss insurance company Mobiliar also participated in the round and will work with Carvolution following the investment.

Zurich-based VC Armada is the venture fund and family office of Swiss entrepreneur Daniel Aegerter.

Swiss VC Redalpine invested from its third vehicle, Readlpine Capital III, which held a final close in September 2017. Carvolution is the vehicle's ninth investment, according to Unquote Data. The GP's latest vehicle, Readlpine Capital IV, held a final close in March 2019 on €100m.

Previous funding
Redalpine invested an undisclosed amount in Carvolution in February this year.

Company
Bannwil-based Carvolution was founded in 2018 by Olivier Kofler, Luis Wittwer, Léa Miggiano, Bernhard Drüner and Adrian Boss. The company provides leasing and subscription services for a range of cars for a monthly flat price. It has a headcount of 23, according to its website.

People
Carvolution – Olivier Kofler (CEO).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Switzerland