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Turo lands $92 million for peer-to-peer car rental

September 6, 2017 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

San Francisco’s Turo https://turo.com/ , which helps people rent their cars to other people, has landed $92 million in funding, co-led by Germany’s Daimler and South Korea’s SK, a major conglomerate. The investment brings total backing for the peer-to-peer marketplace to $193 million.

"Daimler and SK have very strong footprints in Europe and Asia, so we are looking forward to accelerating our international expansion," Turo CEO Andre Haddad said in an interview. Turo currently operates in 49 U.S. states — with a heavy concentration in metropolitan areas — four Canadian provinces and the United Kingdom.

By Carolyn Said

http://www.sfgate.com/business/article/Turo-lands-92-million-for-peer-to-peer-car-rental-12175041.php