Rental Company Silvercar Raises $5 Million

Posted Jul 11, 2013

Silvercar is a startup that lets you rent a silver Audi A4 at certain airports.  The company has raised $5 million in a new round of funding.  The funding was revealed in an SEC filing.  Silvercar did not identify the investors.

“The equity capital will be used to commence operations in additional markets and develop our offering for rapid expansion. In just six months since launching at DFW, Silvercar has grown to serve four locations, and we plan to aggressively open at more each quarter,” said Silvercar in a statement to TechCrunch.

Customers can use the Silvercar app to make reservations and unlock the car.  Silvercar is currently available in the airports at Austin, Dallas, and Houston, Texas.  Silvercar previously raised $11.5 million in funding from Austin Ventures, SV Angel, Chris Dixon, Dave Morin, and CrunchFund.  The company competes against services like Lyft and Uber.