Onto collects $175m in series B round

Jul 28, 2021 • gcv admin

Legal & General, Achmea and TotalEnergies helped the electric vehicle rental service take its overall funding to $245m.

UK-based electric vehicle (EV) subscription service Onto secured $175m yesterday in a series B equity and debt round that included Legal & General, Achmea and TotalEnergies.

Venture capital firm Alfvén & Didrikson led the equity portion of the round, which also featured Cerebrum Tech, JamJar Investments, family-owned holding Vlerick Group and Jim O’Neill’s family office, while Pollen Street Capital supplied a senior-secured asset backed debt facility.

Insurance and financial services firm Legal & General invested through VC platform Accelerated Digital…

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