Oro Mobility has secured an $80 million strategic equity investment from a consortium that includes Cohen Private Ventures and funds or accounts affiliated with Certares Opportunities and Knighthead Capital Management. The investment establishes the Hertz-backed business as a standalone growth platform.
Hertz created Oro as part of its broader transformation strategy and will retain majority economic ownership. Hertz will also continue supporting Oro as its fleet and corporate services partner.
Oro operates approximately 45,000 vehicles across major U.S. mobility markets and is designed to provide an ownership, orchestration, and operations layer connecting vehicles, mobility technology providers, and consumer demand.
The company operates across three primary areas: rideshare rentals, driver-led fleet management, and autonomous vehicle fleet management. The new financing will support expansion of its fleet, operational infrastructure, technology capabilities, workforce, and strategic partnerships across those businesses.
Oro is built on Hertz’s experience in fleet operations, vehicle maintenance, logistics, and asset management. Management sees a growing opportunity to provide professionally managed fleet infrastructure as rideshare demand expands and autonomous vehicle deployments increase.
The structure gives Hertz continued economic exposure to Oro’s growth while allowing the business to operate with dedicated capital and strategic focus as mobility models extend beyond traditional rental cars.
KEY QUOTES:
“At Hertz, our strategy is anchored in the belief that our century of expertise can lead a new era of mobility, and Oro is a powerful example of that in action. As ride-hail demand expands, autonomous vehicle deployments accelerate and consumers increasingly choose mobility services over personal car ownership, demand is growing for purpose-built operators like Oro. This investment underscores the strong foundation we’ve built at Oro and the immense opportunity ahead, validating both Oro’s trajectory and Hertz’s transformation strategy.”
Gil West, CEO Of Hertz And Executive Chairman Of Oro Mobility
“The future of mobility will be powered by professionally managed fleets. As new mobility models emerge, there will be growing demand for companies that can own, finance, operate and maintain vehicles at scale while delivering safe, reliable service. Oro was built to fill that role. This investment gives us the capital, focus and strategic partners to accelerate our growth and support the evolving mobility ecosystem.”
Doria Holbrook, CEO Of Oro Mobility
“We believe Oro has established a differentiated position in a growing and dynamic mobility market. We look forward to supporting the team as they continue to scale Oro, strengthen its capabilities and deliver long-term value.”
Andrew B. Cohen, Chief Investment Officer And Co-Founder Of Cohen Private Ventures
