Getaround Car Sharing Platform Raises $200M At $1.7B Valuation

Car sharing marketplace Getaround is looking to raise up to $201.5 million in Series D extension funding, which would boost the company’s valuation at up to $1.7 billion.

According to PitchBook, the final terms and details of the financing have not been announced and are subject to change.

A spokesperson from Getaround declined to confirm the round.

“As a matter of policy, we do not provide comment on funding speculation until we have news to announce,”  said Allison Van Houten, Getaround vice president of marketing, according to Yahoo Finance.

Founded in 2009, the San Francisco-based company has already received more than $400 million in total venture capital funding from investors including GV, Madrona Venture Group and actor Ashton Kutcher. Its Getaround Connect device now operates in the United States, as well as in seven European countries: Norway, France, Germany, Spain, Austria, Belgium and the U.K.

In April, Getaround announced its acquisition of Drivy, a Paris-headquartered car sharing startup that operates in 170 European cities. And in June, the company announced that it was making a $12 million acquisition of Nabobil, which will boost growth and improve the user experience in the Nordic region through the integration of Getaround’s connected car technology.

“This is an exciting moment for our company, made possible by the incredible work of our founders and team,” said Nabobil CEO Even Heggernes, in a June press release. “Joining Getaround, the world’s leading carsharing platform, gives us the power to invest in keyless, connected-car hardware, and grow the Nordic organization.”

“We are excited to welcome the Nabobil team to Getaround,” added Getaround Founder and CEO Sam Zaid. “We are building an exceptional global organization, and the tremendous experience, drive and values that the Nabobil team bring to Getaround will help drive us forward in our mission to empower people to carshare everywhere.”