Brazilian car rental startup Vai.Car has raised approximately $85 million to help increase its vehicle fleet, according to a report by Contxto.
The investment round was led by XP Investimentos. With the new funds, Vai.Car plans to own 25,000 vehicles within 18 months, says the report.
Based in Sao Paulo, Vai.Car allows users to rent vehicles through its app for a fixed time period, such as weekly or monthly. The rental includes delivery of the vehicle to the customer’s door and an insurance policy. The rental company also offers discounts to Uber drivers.