INSUBCONTINENT EXCLUSIVE:
Getaround, a used car marketplace and winner of TechCrunch Disrupt New York Battlefield 2011, will enter the unicorn club with a roughly
$200 million equity financing.The deal values Getaround, founded in 2009, at $1.7 billion, according to an estimate provided by PitchBook
European cities.Getaround closed a Series D funding of $300 million last year, a round led by SoftBank with participation from Toyota Motor
Existing investors in the business, which allows its some 200,000 members to rent and unlock vehicles from their mobile phones at $5 per
hour, include Menlo Ventures and SOSV.Assuming an upcoming $200 million infusion, Getaround has raised more than $600 million in equity
The business is an active investor in the carsharing market, with investments in Chinese ride-hailing business Didi Chuxing, Uber and
Indeed, the company has moved into France, Germany, Spain, Austria, Belgium and the U.K
car-sharing service in 2011, relying on gig workers who can list their cars on the Getaround marketplace for $500 to $1,000 a month in
payments, depending on how often their cars are rented.Since Getaround entered the market, however, a number of competitors have entered the
space with similar business models
Turo and Maven, for example, have both emerged to facilitate car rental with backing from top venture capital funds.
