Tagged Funding

Australian Startup Splend Raises $227M in Financing

Splend rents vehicles to Uber drivers who don't own their own cars.

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CarHopper Raises $1.5M to Fund Expansion

CarHopper, a luxury vehicle rental booking platform, has closed $1.5 million in seed funding to fuel its launch into four new markets, including Los Angeles, Las Vegas, Miami, and San Francisco.

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Turo Raises $92M, Acquires Daimler's Croove

Turo, a peer-to-peer carsharing marketplace, has raised $92 million in funding from Daimler and other investors. Turo also acquired Daimler's Croove, a peer-to-peer carsharing service in Germany.

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eHi Announces Completion of $400M Offering

eHi Car Services Limited, a car rental and car services provider in China, has completed an offering of $400 million aggregate principal amount of its senior unsecured notes.

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Fox Rent A Car Raises $25M in Funding

NewSpring Capital, a family of private equity funds providing growth and expansion capital, has led a $25 million investment in Fox Rent A Car Inc.

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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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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?

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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.

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