SoftBank-backed Getaround is raising $200M at a $1.5B+ valuation – gpgmail


Getaround, a used car marketplace and winner of gpgmail 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. Getaround declined to comment, citing internal policy on “funding speculation.”

“Getaround and our investors work closely together on our growth strategy, and we’ll definitely plan to share more when we’re ready,” a spokesperson said in response to gpgmail’s inquiry Thursday morning.

The news follows the company’s $300 million acquisition of Drivy, a Paris-headquartered car-sharing startup that operates in 170 European cities.

Getaround closed a Series D funding of $300 million last year, a round led by SoftBank with participation from Toyota Motor Corporation. 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 funding to date.

Whether SoftBank has participated in Getaround’s latest financing is unknown. The business is an active investor in the carsharing market, with investments in Chinese ride-hailing business Didi Chuxing, Uber and autonomous driving company Cruise. We’ve reached out to SoftBank for comment.

In conversation with gpgmail last year, Getaround co-founder Sam Zaid emphasized SoftBank’s capabilities as a mobility investor: “What we really liked about [SoftBank] was they take a really long view on things,” he said. “So they were very good about thinking about the future of mobility, and we have a common kind of vision of every car becoming a shared car.”

Getaround was expected to expand into international markets with its previous fundraise. Indeed, the company has moved into France, Germany, Spain, Austria, Belgium and the U.K. where it operates under the brand “Drivy by Getaround,” and in Norway under the “Nabobil” brand.

The business initially launched its car-sharing service in 2011, relying on gig workers, who can list their car on the Getaround marketplace for $500 to $1,000 a month in payments, depending on how often their car is 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.


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Peer-to-peer boat rental marketplace Boatsetter raises $10M as it looks to grow globally – gpgmail


Obviously, not everyone owns their boat, and boat ownership is far more unique than car ownership – which makes it maybe an ideal category for peer-to-peer marketplace rentals. P2P boat rental startup Boatsetter recognized this opportunity, and is now announcing a $10 million Series A “extension” funding round to help it grow its business, with investment led by WestCap Group and Valor Equity.

Boatsetter counts itself the top peer-to-peer boat rental marketplace in the U.S., and offers insurance to boat renters, owners and captains alike through a just-announced strategic partnership with Geico. The Miami-based startup estimates he size of the peer-to-peer boat rental market at as much as $50 billion annually, and plans to use its investment to expand its offering, both from a product perspective and expanding its presence in key markets globally.

To date, Boatsetter has raised $31 million, including earlier portions of this Series A raised over the past two years. The company focuses on rentals for anywhere from two to more than a dozen passengers, and a range of boat options that can also include qualified captains for larger vessels. It’s a bit like an Airbnb crossed with an Uber, and there are rentals available in vacation hotspots around the world. AS part of this new funding, Boatsetter is also adding a new board member – Laurence Tosi, the former CFO of Blackstone and Airbnb, who is also a founder and partner at new investor WestCap.

The funding will help the startup invest in bringing in new talent focused on design, engineering and brand building, in addition to product work and market expansion.


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