Ferry Raises $4M in Seed Funding to Make Electric Vehicles More Accessible to U.S. Drivers and Catalyze Auto Industry Digitization

AUSTIN, TX, February 3, 2022 /PRNewswire/ — Electric Vehicle (EV) Subscription Platform Ferry announced today that it has lifted $4 million in seed funding from Porsche heir Toni Piëch AMYP Ventures, Venn Ventures and angel investors Adam Forest and Lisa Besserman.

“The future of transportation is electromobility, and Ferry is focused on democratizing that future,” said Kristian RussellFounder and CEO of Ferry. “We are grateful to have the support of a group of accomplished investors whose strategic advice will further our mission to help get 50% of American drivers behind the wheel of an electric vehicle within the next 10 years.”

Ferry allows users to get a short-term lease (6, 12 or 24 months) on a new electric vehicle with no down payment and delivery to their doorstep, by completing the entire process in the app. Users can choose from a range of new electric vehicle models at a single, transparent monthly price with no down payment. 1000 miles per month (upgradable), maintenance and taxes included.

By prioritizing flexibility and simplicity, Ferry is reducing the significant barriers consumers have faced for years when looking to rent an electric vehicle. And with regulations prohibiting direct auto sales in many states, Ferry’s direct leasing model offers a pathway to quickly attract more Americans to electric vehicles.

“As an investor in high-growth climate-focused opportunities, as well as existing car subscription platforms in EuropeI believe Ferry is best positioned to capture the still nascent direct-to-consumer car market in the United States,” said Toni Piëch, President of AMYP Ventures and founder of Piëch Automotive. “Both new and old manufacturers will benefit from their technology-driven, customer-centric approach – and with a focus on electromobility, Ferry is designing a new future of driving for the next generation of American consumers.”

“The heart of any successful business is a strong team working to bring an innovative idea to fruition, and we strongly believe that Kristian and the Ferry team are onto something big,” said Chan Walker and Melissa Larson Youngblood of Venn Ventures. “The car rental industry is undoubtedly poised for disruption, and Ferry’s consumer-driven model, which makes electric vehicles more accessible, is perfectly suited for the future.”

“Kristian and his team are keenly aware of the barriers that prevent more people from getting into electric vehicles, and Ferry is well positioned to help the American consumer overcome these challenges,” said Lisa Besserman. “By prioritizing flexibility and simplicity, Ferry is not only poised to be a favorite among young car owners, but could very well change the way cars are bought and rented in this country. for good. I’m thrilled to be involved with a company that has this kind of game-changing mission.”

Ferry counts the heavyweight of the automotive heritage Piëch and Jeff Johnsonformer Chief Financial Officer of Revel, as directors/advisors.

Ferry is an electric vehicle (EV) subscription platform that allows consumers to obtain short-term leases on new electric vehicles, right from their phone. With a focus on customer delight, their intuitive app ensures an optimized customer journey based on simplicity, flexibility and transparency for the consumer.

Media Contact: Will Chabot, [email protected]

SOURCE Auto Ferry

About Kevin Strickland

Check Also

Korn Ferry’s royalty revenue increases 29.9% in the fourth quarter of the fiscal year, growth across all lines of business

June 22, 2022 Korn Ferry’s (NYSE: KFY) commission revenue increased 29.9% year-over-year during the company’s …