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NIBC arranges structured debt solution for Cluno

Cluno sells mobility-as-a-service to their clients in an easy and simple way, perfectly fitting the subscription economy trend. The tailor-made and scalable financing framework provided by NIBC will allow Cluno to continue growing its asset base of vehicles and expand its footprint in the car subscription market.

The assignment

Cluno’s car subscription business model enjoyed a successful start in 2017. However, to achieve the required scale to become a market leader, the client needed a scalable asset financing solution to purchase more vehicles. By ensuring that sufficient debt financing is available for the year 2020, the company can now focus on quickly expanding its fleet.

Adding value

NIBC supported Cluno in an entrepreneurial manner by assisting the company with a scalable asset-based financing structure that would allow it to achieve its growth targets. Supporting a young, growing company in this way sets NIBC apart from the competition.

Delivering results

The company got the asset financing solution it was looking for. The transaction was made public and received a lot of positive attention from the market, boosting Cluno’s visibility in the financial world even further.

“We’re delighted to have collaborated with NIBC. The bank’s sound knowledge of structured finance and the automotive sector meant the process went very smoothly. NIBC’s financing will support us on our growth journey over the next few months,” says Cluno CFO Veronika von Heise-Rotenburg.

 

“It’s only two years since Cluno launched and yet we’ve managed to raise an impressive amount of €140 million in debt capital to expand our vehicle fleet – that’s big news. The latest financing deal will help take us to the next level, and fast,” says Cluno CEO Nico Polleti.

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