Jul 27, 2022

Onto , a London, UK-based all-inclusive electric car subscription service, raised $60M USD in equity in a Series C funding. The round was led by Legal & General with participation from existing investors Alfvén & Didrikson, Accelerated Digital Ventures, Cerebrum Tech Limited, and the family office of Jim O’Neill. The company intends to use the funds to consolidate leadership in the UK and expand into Europe, starting with Germany where Onto already has an office in Germany. Founded in 2017 by Rob Jolly and Dannan O’Meachair, Onto provides a way for motorists to join the EV revolution via an all-inclusive car subscription service. Since 2018, the company has expanded rapidly, partnering with new charging and electric car providers as more EVs become available to suit all budgets. Onto currently offers 18 models, with subscriptions starting from £489 per month. In 2020, the company launched Onto for Business to provide companies with a flexible, no-commitment car subscription solution for their employees. Both parties can capitalise on tax savings and to date over 100 companies have over 600 vehicles via an Onto for Business subscription. Onto’s monthly subscription service includes 750 miles per month, insurance, servicing and maintenance, and free public charging at more than 12,500 points via its UK network of charging partners – Shell Recharge, BP Pulse, InstaVolt and Tesla Supercharger. FinSMEs