Car App Gapless Holds Successful Funding Round, Expects 100,000 Listed Vehicles by EOY

Gapless, the first blockchain platform for premium and classic cars, has announced the successful end to a vast seed financing round. The Berlin-based startup for “things you love” has secured 5.5 million euros of investment in a round led by the joint venture of FinLab AG and EOSIO blockchain developer Block.one – FinLab EOS VC Fund.

Gapless founders, CEO Jan Karnath, CTO Andreas Joegbes, and CFO Malte Häusler can be glad that some of the other investors are Porsche AG and LA ROCA Capital, representing the insurance entrepreneur Kersten Jodexnis.

Gapless is an all-in-one mobile app aimed at car enthusiasts. It is available for both Android and iOS and allows users to create a complete service history of their automobile and use third-party car-related services via the application. Founded in 2018, the application aims to ensure the value of historically-preserved automobiles in an ever-so digital world. All vehicle information that is entered into the app, such as vehicle recalls or equipment specifications is completely secure and can be shared only by the owner.

Jan Karnath, Gapless CEO, commented on the successful financing round:

“With the FinLab EOS VC Fund, in partnership with Block.One venture arm EOS VC, we have found our partner of choice for the further development of our young company. We are now taking the next step together to become the ‘platform for things you love.”

FinLab AG is one first and biggest investors in fintech and blockchain companies in Europe. The German-based investment company provides venture capital to startups and actively supports its work in the form of long-term participation.

The Managing Director of the FinLab EOS VC Fund, Stefan Schütze made a statement in regards to the investment:

“We are pleased to welcome Gapless as a new investment in our portfolio. Gapless shows how blockchain technology can change services from the ground up – and always thinks from the user’s perspective.”

Block.one released in June 2018 its blockchain protocol EOSIO, which is regarded as the premier performant blockchain platform for businesses. Currently, it is among the most active blockchain software platforms globally.

Block.one, through its EOS VC program, grants funding to entrepreneurs and developers who use EOSIO to build community-driven businesses. When providing venture capital, the program requires to see the use of the EOSIO ecosystem. EOS VC also fosters individuals from all around the world via engagement events.

As for Porsche, one of the most reputable car manufacturers in the world, it has supported Gapless since its founding. The startup has been part of Porsche’s innovation agenda at the IAA in Frankfurt and the Slush Conference in Helsinki. Gapless is also part of the Zuffenhausen ecosystem and participated in the accelerator program STARTUP AUTOBAHN, which is powered by Plug and Play.

Up to date Gapless administers over 50,000 automobiles on its platform, with owners ranging from Germany, USA, and Great Britain. It is expected that the number of vehicles, part of the platform would reach 100,000 by the end of the year.