Achmea Innovation Fund invests in Onto

The Achmea Innovation Fund has participated in the $175 million Series B funding round announced by Onto , Europe’s largest electric vehicle (EV) subscription service.

Founded in 2017, Onto offers private and business users easy access to electric cars, without long-term obligations. Through a monthly cancelable all-inclusive subscription, customers get the latest electric vehicles at their disposal, including insurance, public charging, and maintenance.

“The car market is increasingly moving towards a B2B2C (business-to-business-to-consumer) market . Car-as-a-Service is part of the movement towards zero ownership. Onto offers a simple, flexible and affordable alternative to traditional car ownership. That is why Onto uses transparent prices and we do not ask for a deposit. As a result, users can easily step into the world of EVs and exchange their cars without any problems, without being tied to a long contract or high upfront costs.” – Rob Jolly, CEO, and co-founder of Onto.

The news follows the acquisition of Madrid-based car subscription startup Bipi by RCI Bank and Services, part of Renault.