Report: Getaround Is Raising Over $200 Million At More Than A $1 Billion Valuation

By Dan Anderson ● September 11, 2019
  • Peer-to-peer car-sharing service Getaround announced it raised up to $201.5 million in Series D extension funding

Getaround — a peer-to-peer car-sharing service founded by Elliot Kroo, Jessica Scorpio, and Sam Zaid — is reportedly raising up to $201.5 million in Series D extension funding, according to PitchBook. This round of funding would value Getaround at up to $1.7 billion, which is up from the $840 million valuation that it achieved last year. These terms may be subject to change and Getaround declined to provide PitchBook with a comment.

Launched in 2009, Getaround primarily serves the US market and the company acquired Paris-based car-sharing startup Drivy for $300 million earlier this year. Drivy operates in nearly 200 European cities.

Since being founded, Getaround has raised more than $400 million in venture capital funding from SoftBank, Madrona Venture Group, and Ashton Kutcher.

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The car-sharing industry has been heating up this year. Back in July, Turo raised $250 million at a reported valuation of about $1 billion.

Getaround has around 200,000 users who use the service to rent and unlock vehicles using their mobile devices for a price of $5 per hour. And the car owners receive around $500 to $1,000 per month in payments depending on how often their vehicles are rented.

Getaround had closed $300 million in Series D funding last year led by SoftBank with participation from Toyota.