In a significant boost to its mission of transforming urban mobility, Onto, Europe's largest electric car subscription service, has successfully raised £22.5 million in a recent funding round. This investment comes on the heels of the company’s impressive growth, which saw a remarkable 300% increase in 2022, solidifying Onto's position as the go-to provider for electric car subscriptions in the UK. With a fleet of over 6,000 vehicles—the largest in the country—Onto is paving the way for consumers to effortlessly make the switch to electric driving every day.
The funds will primarily be utilized to enhance the company's technological infrastructure, expand its fleet of electric vehicles, and broaden its reach throughout Europe. By facilitating access to the latest electric cars with a monthly subscription model—complete with insurance, servicing, breakdown cover, and free public charging at over 11,000 locations—Onto is not only helping individuals reduce their carbon footprint but also making electric driving convenient and affordable. With no upfront deposit and the flexibility to swap cars at any time, Onto's hassle-free service is particularly appealing to environmentally conscious urban drivers. By leveraging a fully digital platform, users can expect seamless integration into their lives, from signing up to having a car delivered to their doorstep within just 72 hours. As Onto continues to innovate and expand, it remains committed to leading the charge toward a sustainable transportation future and changing the way we drive.
