The German start up Vehiculum, offering both business and personal leasing offers, has become insolvent.
The Berlin-based online leasing comparison website was designed to offer transparency in the German leasing market along with realtime lease cost comparisons, along with a digital customer journey.
Originally launched in 2015, the website offered business-only lease offers before the company secured a Euro 7 million ($8.1m) investment round in 2019 to break into the personal leasing market.
According to a report in the publication Autohaus, the founders laid the blame on the bottleneck in the supply of new cars. Caused by the lack of microprocessors the car squeeze created cashflow problems for the business, while hopes of further investment appear to have failed.
Earlier this spring,Vehiculum had worked with the supermarket grocer Lidl to create low cost leasing offers. Called Lidl-Auto, the partnership also included Sixt, and offered the Fiat Cinquecento from as little as 89 Euros ($103) a month .