Tagged Funding

Getaround Raises $45M in Funding

Getaround Inc., a peer-to-peer carsharing platform, has raised $45M in new capital. With this capital, it plans to expand to additional North American markets.

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Shouqi Car Rental Receives $309M in Funding

The funding will go into expanding Beijing-based Shouqi Car Rental’s fleet, as well as improving its marketing and technology.

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Honda Partners With Ride-Hailing Service Grab

Honda’s $750 million investment in ride-hailing Grab is part of an agreement to collaborate on motorbike-hailing services.

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Private Interests

The police raid of a car rental company in Detroit leads to questions on how insurance fraud investigations and prosecutions are funded — and the motivations driving the players on all sides.

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eHi Car Services Announces up to $150M Loan Facilities

eHi Car Services Limited, a car rental and car services provider in China, has announced that it has entered into an up to $150 million syndicated loan facility agreement.

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Ford Contributes More Funding to India’s Zoomcar

Zoomcar, an India-based carsharing service, has raised another $25 million in a Series C round. Ford Motor Co. led investors in this recent round of funding.

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Phoenix Rental Companies Challenge $34M in Taxes

Rental car companies are looking to get a refund of a tax collected by the city of Phoenix.

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French Carsharing Drivy Raises $35M in Funding

French peer-to-peer carsharing service Drivy has closed a $35.2M round of funding, which was led by Cathay Innovation and Nokia Growth Partners.

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Silvercar Receives Largest Capital Raise to Date

Silvercar has announced a $28 million Series C equity issuance led by Audi. Silvercar recently launched in Las Vegas, its 12th market.

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Price Comparison Site HappyCar Raises $1.5M in Funding

Happycar, a European car rental comparison startup — has raised a new $1.58 million round of funding from several organizations, including Global Founders Capital and e-commerce company Rocket Internet.

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Ariz. Must Refund Car Rental Tax, Judge Rules

The Arizona Sports and Tourism Authority depends on revenue from the 3.25% rental car tax to make debt payments on the University of Phoenix stadium.

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Getaround Raises $24M to Further Expansion

Getaround, a San Francisco-based peer-to-peer car sharing service, has raised $24 million in Series B financing led by automotive giant Cox Automotive — owner of AutoTrader, Kelley Blue Book and Manheim Auctions.

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RelayRides Raises $44M in Funding

Peer-to-peer car-sharing company RelayRides has raised $25 million in Series B funding, bringing its total funds raised to $44 million.

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Car Rental Tax Can’t Fund Stadium, Says Judge

A judge of Arizona’s Maricopa County Superior Court has ruled that a car rental tax can’t help pay off the Cardinals Stadium in Glendale, Ariz. Taxes imposed on the use of vehicles are restricted to funding road construction, maintenance and related purposes.

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Maui Airport Plans $305M Rental Car Facility

A total of $305.5 million was released for the planned Consolidated Rental Car Facility and other roadway improvements at Maui’s Kahului Airport.

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Honolulu Airport Needs Funding for Temporary Car Rental Facility

The state of Hawaii is asking for bids to help fund a temporary car rental facility at Honolulu International Airport.

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Bollore Receives $98 Million to Expand Car Sharing Program in France

The European Investment Bank loaned Bollore $98 million to continue its Autolib car sharing service throughout France.

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What to Tax, if Not Car Rentals?

Here are some novel ideas on taxation that shift the burden away from car renters.

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How Enterprise Funds Its Fleets

Enterprise CFO Bill Snyder spoke recently with Auto Rental News on how Enterprise funds its fleets (Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car), and on the company’s outlook on the current financial market.

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