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Onto raises $60m to transform the future of car ownership

Today we’re happy to announce that Onto, the rapidly growing and leading electric car subscription service in the UK, has raised a further $60 million in a financing round led by the British financial services company Legal & General with strong participation from existing investors, including Alfvén & Didrikson.


A&D first invested in Onto in 2021, a year during which the company grew by more than 500% despite the global semiconductor chip shortage. The financing round will enable the business to further solidify its leading position in the UK as well as expand into Europe, starting with Germany in 2023.


For more information, visit www.on.to, and for those of you based in the UK keen on switching to hassle-free car access with a positive impact on the climate, make sure to try out the service.


/ Your A&D team


Team Onto. Photo: Press