Carvolution

About Carvolution

Carvolution AG is a Swiss company that has established itself as a key player in the country's mobility sector by offering a car subscription service. Founded in 2018 by Léa Miggiano, Luis Wittwer, and Olivier Kofler, the company provides an alternative to traditional car ownership and leasing. The founding idea stemmed from Miggiano's personal need for a flexible vehicle solution without the long-term commitments and complexities of purchasing. She started the company at age 23, bringing a fresh perspective to the male-dominated auto industry. The leadership team combines diverse expertise; Miggiano drives marketing, Wittwer, with a background in analytics and product management at companies like Swisscom and Porsche, serves as COO, and Kofler, a serial entrepreneur who co-founded Bexio, acts as CEO, bringing critical experience in scaling tech-focused startups.

The company's business model centers on a monthly, all-inclusive subscription fee. This single payment covers insurance, registration, taxes, maintenance, service, and tires, with the customer only responsible for fuel or charging costs. This transparent, fixed-price structure is designed to offer predictable costs and greater flexibility compared to leasing or buying. Clients can select from a wide range of vehicles online—from small cars to SUVs, including electric and hybrid options—and customize their subscription based on duration and mileage packages. Minimum terms can be as short as a few months, after which customers can cancel monthly, switch cars, or extend their contract. The entire process is highly digitized, managed through the company's website and a dedicated app. Carvolution serves both private individuals and corporate clients seeking flexible fleet solutions.

Since its inception, Carvolution has demonstrated significant growth, backed by substantial funding from notable investors. The company has navigated several funding rounds, including a Series A in 2019, a Series B led by Redalpine and Armada, and a CHF 15 million Series C in 2021. A key strategic partnership was formed with Mobiliar, a major Swiss insurance company, which has not only invested significant capital for fleet expansion but also provides insurance services, adding value to the customer package. In early 2024, Carvolution secured a major asset-backed financing deal of up to CHF 200 million from international players Barclays and Waterfall Asset Management to further expand its vehicle fleet. This financial backing has enabled the company to grow to over 80 employees and solidify its market position in Switzerland.