IAC has provided $250m in series E funding to Turo, bringing the GV and American Express-backed car sharing platform’s total funding to $458m.
US-based vehicle-sharing platform Turo yesterday picked up $250m in series E capital from internet and media holding group IAC, pushing the company’s valuation beyond $1bn.
Originally known as RelayRides, Turo operates an online marketplace for users to lease their cars to others for short periods of time.
The service, which has grown to nearly 400,000 vehicles and some 10 million users, is available in more than 5,500 cities across the US, Canada, Germany and the UK.
The series E money…
