travelcar
2 months ago
 

TravelCar earmarks €15m raise to launch at LAX and SFO

French car-sharing service TravelCar has raised €15 million, with the funding coming from automotive giant PSA Group and insurance firm MAIF.

TravelCar launched in 2012 and is active in ten European countries, providing a range of options for travellers to optimise the use of their vehicles. One product line is allowing travelers “free parking” at airports, train stations and city centers by helping them rent out their vehicle while they are away, earning a fee from the renter .

It also brokers parking spaces at or near stations and airports.

The cash raised will be used to introduce the concept in the US, with Los Angeles and San Francisco identified as its launch locations. As well as being the second and seventh largest airports in the US respectively, TravelCar expects that the idea will resonate with employees from nearby Silicon Valley.

PSA Group is the holding company which owns Peugeot, Citroen and DS Automobiles. MAIF meanwhile is a mutual insurance company with three million members in France.

Click here to read the press release.

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Martin Cowen

About the Writer :: Martin Cowen

Martin Cowen is contributing editor for Tnooz and is based in the UK. Besides reporting and editing, he also oversees our sponsored content initiative and works directly with clients to produce articles and reports.

For the past several years he has worked as a freelance writer, specialising in B2B distribution and technology.

Before freelancing, from 2000-2008, he was launch editor for e-tid.com, the first online-only B2B daily news service for the UK travel sector.

 

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