GROWTH. DRIVEN BY REASON.

Growth. Driven BY Reason.

WE INVEST WITH A FOCUS

The digital revolution is still in its infancy, yet even now the transition from offline businesses to the web is impacting almost every branch of industry. This development is spawning exciting new business models with substantial growth potential. This is where Acton invests growth capital. Our focus lies on companies in the consumer Internet segment. Our key criteria: potential market leadership coupled with a functioning, scalable business model and strong entry barriers. Acton is active in Europe and North America.

We foster growth

Supporting fast-growing companies is our passion. We see ourselves not only as investors, but also as dependable strategic and operational navigators, guiding our portfolio companies as they head for leadership in national and international markets. Our drive is centered on developing these companies in partnership with their founders. And demonstrating sound judgment, enthusiasm and decisiveness en route.

WE BANK ON SUSTAINABILITY

Helping company founders evolve their businesses sustainably – that's what counts for us. We take a long-term approach: our goal is to establish successful business models and genuine brands, and to generate values. Values that last. That is why we engage ourselves in the portfolio companies over several years. By pursuing this investment strategy, we have helped many of our portfolio companies become market leaders – including brands like Mytheresa, Etsy, Zooplus, AbeBooks, HolidayCheck and OnVista.

WE CONTRIBUTE OUR EXPERIENCE. WITH SUCCESS.

Since 1999 we have invested more than EUR 350 million in more than 65 Internet-based business models, in the process posting a well-above-average return on four generations of funds. Our own company founders have been working together for over 15 years, and the Acton team as a whole can call on 200 years of investment experience. Moreover, it is ideally networked with both companies and investors. All of these factors have contributed to create one of the most successful European venture portfolios in the consumer Internet segment.

Investments. Driven by Reason.

AlphaSights

Clio

Cluno

Comatch

Freska

Home24

HomeToGo

Indochino

iwoca

Koio

KupiVIP

Linas Matkasse

Mambu

Mobify

Momox

Sofatutor

tolingo

Vimcar

windeln.de

Zenjob

People. Driven by reason.

Dr. Christoph Braun

Dr. Paul-Bernhard Kallen

Fritz Oidtmann

Dr. Jan-Gisbert Schultze

Frank Seehaus

Sebastian Wossagk

Dominik Alvermann

Dr. Hannes Blum

Dr. Benedikt Sudbrock

Jörg Wernet

Julius Lühr

Christina Catania

David Fischer

Dominique Krötz

Success. Driven by Reason.

February 7, 2019

Acton participates in a EUR 25 Mio. Series B Financing Round in Cluno

Fresh capital for car subscription service Cluno

Cluno has raised $28 million in Series B funding led by US-Investor Valar VenturesThrough its Series B funding round – led by Valar Ventures – the mobility and fintech company Cluno has secured $28 million to further expand the business. Based in New York, Peter Thiel’s Valar Ventures focuses on rapidly growing technology companies. Among others, it has invested in N26. Existing investors Acton Capital Partners and Atlantic Labs also took part in the round.

Munich, February 7th, 2019. After raising €7 million (~$8 million) in a Series A investment round in April 2018, Cluno has secured further significant financing. In total, Cluno has raised $36 million in funding in less than one year.

Cluno will use the additional capital to further accelerate the company’s growth momentum and to fuel its technological advance. The company is the only independent provider of a flexible and completely digital car subscription service in Germany. The whole process of making the booking, as well as credit checks and signatures, are carried out totally paperlessly via app, rendering Cluno the first company to totally digitize access to one’s own car. The Cluno app for iOS was published on October 31st, 2018, with the Android app following in early 2019.

Cluno provides a subscription model for car ownership. It is a flexible and revolutionarily simple way for consumers to drive their own car without buying it. In just three minutes, users can digitally book a car in the app for an all-inclusive, monthly subscription fee and get it delivered to their desired place. In contrast to purchasing, financing or leasing a car, there is no long-term commitment – the minimum contract period is six months, with a notice period of three months.

Not tied to a particular brand, Cluno offers almost 50 models from nine different makes, including BMW, VW, Audi and Ford in all of Germany. Featuring small cars to SUVs, as well as new technologies like hybrid and electric vehicles, Cluno’s already broad range will be significantly expanded in 2019.

Nico Polleti, co-founder and CEO of Cluno, says: “People don’t just want simple, quick and flexible access to mobility for a fair price, but more than ever, a contemporary, digital service with a compelling end-to-end experience. Cluno is dedicated to this mission and the digitalization of the entire car subscription process.”

Andrew McCormack, General Partner of Valar Ventures, adds: “Cluno has created an appealing solution for mobility that consumers love. They have simplified the complex process of car financing and made it available in a straightforward way through their app. Through Cluno's automated credit check, users can also receive feedback in real time.

The success of Netflix and Spotify has confirmed the trend towards usage over ownership. The same concept will be standard in mobility and car ownership; the timing for Cluno’s car subscription service is just right. Our investment will support Cluno as the company accelerates its growth towards being the European market leader. The potential is enormous.“

Cluno is operating in a thriving and high-growth market. According to McKinsey*, subscription models saw more than 100% growth annually in the past five years. Frost & Sullivan** predict that car subscription models will represent around 10% of all car sales by 2025.

Acton Capital Partners GmbH

Widenmayerstr. 29
D - 80538 Munich
Germany

E-Mail: info@actoncapital.de
Phone: +49 89 2421 8870