Softbank's carsharing service raises another $140M

Wednesday, 14. October 2020 15:24

American online car sharing or peer-to-peer carsharing service Getaround Inc, which is backed by SoftBank Group, said on Wednesday it managed to raise $140 million in extra venture capital funding.

The company admitted its business was heavily impacted by the coronavirus pandemic and that demand plunged 75% so it went for financial support from the United States pandemic aid program.

Sam Zaid, Getaround’s chief executive, stated that "this round of funding really helps achieve our goal of profitability," and when asked about possible IPO, stated "the company was always interested in new investment opportunities."

Related Links: Softbank Group Corporation
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Breaking the News / TF