Airport car rental startup Travelcar raises $15.8m to expand to the US

Founded by Ahmed Mhiri, a Tunisian based in France, TravelCar just finalized a fundraising of €15 French auto maker PSA Group and French insurance group MAIF, to launch in the US market on April 1st.
Founded in 2012, Travelcar has a network of over 200 agencies and 300,000 users in ten European countries. The firm will launch car rental offers for travelers, in Los Angeles and San Francisco airports with solutions designed to optimize cars ensuring they rarely go unused and become a resource for car owners.
“With PSA Group and MAIF support, TravelCar entering the American market is taking a new step forward in its international growth”, declares Ahmed Mhiri, Founder & CEO TravelCar. “Our offer takes care of travelers from their departure, offering them a parking solution, and their arrival with an accessible and eco-responsible mobility solution.”

TravelCar offers three kind of services to travelers; either owner or car user. Car owners who make their vehicle available for rent benefit from free parking. If the vehicle is rented out, the car owner is also paid. An advantageous-price parking solution is also available for car owners who prefer not to share their vehicle. Last, car users looking for a vehicle can have access to a private car at a reduced price – approx. 50% less expensive than with a traditional car rental offer.

The American market has more than 850 million travelers per year. Los Angeles and San Francisco airports are respectively the 2nd and the 7th biggest airports in the United-States. Moreover, the 2 cities located close to the Silicon Valley are favorable for these new offers deployment.

“We announced our progressive entry to North America by launching mobility services with our partners” declares Grégoire Olivier, Head of Mobility Services, PSA Group. “We deploy these services worldwide to meet customers’ expectations. With TravelCar today, we’re writing the beginning of this new step overseas.”

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