logo
logo

Getaround Secures $20 Million in Financing, Following Strong Q3 2023 Results

Getaround Secures $20 Million in Financing, Following Strong Q3 2023 Results

01/23/24, 11:59 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsan francisco
Money raised
$20 million
Industry
other
Investors
Mudrick Capital Management
Getaround announced a new debt facility with Mudrick Capital Management for up to $20 million in additional capital to provide funding for its 2024 operating plan, with Getaround having drawn the first $5 million. The financing follows strong Q3 2023 financial results, with strong revenue growth (+42% year-over-year) and improvement in trip contribution margin (increased to 52%; up 640 basis points year-over-year).

Company Info

Company
Getaround
Location
55 green street
san francisco, california, united states
Additional Info
Offering a 100% digital experience, Getaround (OTC: GETR) makes sharing cars and trucks simple through its proprietary cloud and in-car Connect® technology. The company empowers consumers to shift away from car ownership through instant and convenient access to desirable, affordable, and safe cars from entrepreneurial hosts. Getaround’s on-demand technology enables a contactless experience — no waiting in line at a car rental facility, manually completing paperwork or meeting anyone to collect or drop off car keys. Getaround’s mission is to utilize its peer-to-peer marketplace to help solve some of the most pressing challenges facing the world today, including environmental sustainability and access to economic opportunity. Launched in 2011, Getaround is available today in more than 1,000 cities across the United States and Europe.

Related People