Virtuo operates a fully digital car-rental platform that lets users book, unlock and drive Mercedes A-Class, Mercedes GLA SUVs and select Hyundai Kona EVs without visiting a rental desk or handling paperwork. Rentals can be delivered and collected at the customer’s chosen location, targeting city dwellers who forgo car ownership but need vehicles for multi-day journeys. The company reports 150,000 active users and doubled its business over the past year, buoyed by a rise in staycations and longer rental durations. Virtuo offsets 100% of its carbon footprint, aims to make 50% of its fleet electric by 2025 and 100% by 2030, and is adding a dedicated tier for business customers. Current operations span 12 French cities plus London, Manchester, Edinburgh, Barcelona, Madrid and Valencia, with Milan and Germany slated to launch soon and a goal of 10 countries by 2025. Revenue grew during 2020 despite pandemic headwinds. The new capital will fund technology enhancements, fleet expansion and broader geographic coverage.

Total raised

$128M

Funding rounds

4

Latest round

Debt Financing

Latest activity

May 2021