The “subscribe to your car” movement has been taking off in recent years, with the appearance of Fleks in the UK (Europe), Cazoo (after its acquisition of Drover), Care by Volvo Hertz, to name just a few.
Into this space has appeared imove out of Norway, with what appears, at least, to be a new twist on the whole thing: a white-label platform offered to industry to enable it to offer these car subscription services under their own brands. imove’s platform allows users to subscribe to electric vehicles from eighteen different manufacturers and over 50 different models.
The startup has now closed a €19M / $22.3M Series A round led by pan-European online car market AutoScout24. It was joined by the VCs Norselab and Idekapital, as well as the Norwegian state climate investment company Nysnø. Existing owner Hedin Automotive also joined. The round consists of a new equity issue of €13M combined with a €6M secondary sale of shares.
Founded in 2018, imove allows a company…