Turo Closes $104M Investment Round

Peer-to-peer car rental app Turo is cementing its place in Asia and prepping for a 2020 Japanese debut, after it closed a $104 million round of funding earlier this week, the Asian Review reported.

Japanese trading house Sumitomo Corp. invested a substantial amount in the San Francisco-based startup, although the exact amount wasn’t disclosed.

Turo aims to launch its Japanese operations prior to the 2020 Tokyo Olympics, with expansion into other Asian markets in the future.