London, United Kingdom
Onto, Europe's largest electric car subscription service, offers an innovative alternative to traditional car ownership with its all-inclusive model. Founded in 2017 and headquartered in the United Kingdom, Onto capitalizes on the electric vehicle trend, providing a flexible and hassle-free subscription experience without the need for long-term commitments.
In 2022, Onto experienced significant growth, expanding its fleet by 300% to over 6,000 cars, now the largest electric car fleet in the UK. Users pay a flat monthly fee for their subscription, which includes insurance, servicing, breakdown cover, and free access to over 11,000 public charging locations across the UK. This approach simplifies electric vehicle ownership by eliminating complex contracts and upfront deposits.
In its latest funding round on 25 January 2023, Onto secured £100.00M in debt financing from investors, including Pollen Street Capital and Caisse de Depot et Placement du Quebec. This investment reflects a robust endorsement of Onto's scalable business model.
