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07 09 2017 03

Daimler Mobility Services is investing in the US carsharing company Turo Inc., as part of a $92-million financing round. With more than four million customers and more than 170,000 vehicles, Turo is the market leader in the peer-to-peer (P2P) carsharing sector in the US. The round was co-led by Daimler Mobility Services and one of South Korea’s leading companies, SK Holdings. Turo’s strategic insurance partner, Liberty Mutual, also joined the round, as did Founders Circle Capital. All existing investors joined the round as well.

Daimler will combine its peer-to-peer carsharing platform Croove (earlier post) with Turo. After the successful launch of the pilot project at the end of 2016 in Munich, Germany, Croove launched in Berlin in mid-April 2017, as well as in additional German cities. The expertise and experience of Croove will serve as the basis for Turo to enter the German market within the next year. With the launch in 2018, Croove customers can use the new offers of Turo.

The investment in Turo is another step in the implementation of the Daimler CASE themes “Connected,” “Autonomous,” “Shared & Services” and “Electric.” Daimler Financial Services bundles all mobility services under “Shared & Services” - from carsharing (car2go) and ride hailing (mytaxi) to mobility platforms (moovel). Since the end of 2016, in addition to car2go, Daimler has also been offering private carsharing via Croove, to bring together private car renters and owners—irrespective of the brand of the vehicles.

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Tags: Mobility

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