MENU
SEARCHVirtuo, a carsharing startup based in France, has raised $96 million to invest in its technology and expand to more European markets.
The online carsharing company is receiving a $60 million Series C and $36 million in asset financing, with AXA Venture Partners leading the equity round.
Photo via Depositphotos.
Virtuo, a carsharing startup based in France, has raised $96 million to invest in its technology and expand to more European markets, according to a report by Tech Crunch.
The online carsharing company is receiving a $60 million Series C and $36 million in asset financing, with AXA Venture Partners leading the equity round, according to the report.
Virtuo’s technology allows users to rent a vehicle through its app with the option to have the vehicle delivered or picked up, says the report. Users can rent vehicles for a few days or up to a few months.
Currently the company has locations in France, the U.K., and Spain. Outside of France, the Mercedes Benz A-Class or the Mercedes GLA SUV are the only models available to rent. Other vehicles at its French locations include the BMW X1, Hyundai Kona Electric, Peugeot 208, and Fiat 500X.
With the funding, Virtuo plans to expand to Milan soon and to Germany in 2022. The company hopes to expand to 10 more countries by 2025, Karim Kaddoura, co-founder of Virtuo, told Tech Crunch.
LOR overall continues to trend downward, but ongoing market and economic conditions could affect future results while the industry deals with staffing and productivity challenges.
Read More →
The business arrangement connects demand with scalable fleet management services and supports a range of mobility uses.
Read More →
The shift from branch-based software to connected operations is turning rental technology into strategic infrastructure.
Read More →
The shift from branch-based software to connected operations is turning rental technology into strategic infrastructure.
Read More →
The global franchise operation reaches a first in its rental fleet portfolio with new service in Uzbekistan.
Read More →
West Coast disasters pose unique challenges and liabilities for rental fleet operators, who are advised to take steps tailored to their specific situations.
Read More →
Angry car renters are storming social media, the mainstream media, and online ratings platforms to complain about charges they claim are either unfounded or excessive.
Read More →
A Carwiz partner in Puerto Rico is taking on the Panama franchise with operations in the nation's largest airport.
Read More →
The integrated business model combines each operator’s local expertise with international standards to boost sales.
Read More →
The study looks at customer analytics to size up performance in car rentals, rideshare, airlines, lodging, and OTAs.
Read More →
