Australian Startup Splend Raises $227M in Financing

Photo: Mark Warner/Flickr
Photo: Mark Warner/Flickr

Australian car rental provider Splend, which caters to Uber drivers who don’t own their own vehicles, recently raised $220 million in debt financing, Australian Financial Review reported.

The funding came from Element Fleet Management and will be used to bolster Splend’s international presence.

Launched in July 2015, the rental service operates 1,700 vehicles throughout Australia, with offices in Toronto, Mexico City, and London.  A portion of the funding will go to purchasing 13,300 more vehicles in the coming years.

In addition to the $220 million in debt financing, Splend also received $7.2 million in cash.

Comment On This Story

Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.


Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Another Ridiculous “Used Fleet Vehicle” Scandal

While media reports concentrate on the sting and the “outrage,” where’s the empirical evidence that fleet vehicles are less mechanically sound than vehicles sold from private owners?

Will IoT Herald a New Era in Fleet Efficiency?

With the ELD rule finally in effect, small fleet operators need to hunt for new efficiencies. In transportation logistics, Internet of Things (IoT) systems could have similar lasting impacts as telematics.

Will Cars Become Transportation Appliances?

The cars are still the stars, but this year’s L.A. Auto Show revealed an auto industry at a crossroads.

Job Finder: Access Top Talent. Fill Key Positions.