Global chauffeur service provider Blacklane has received $65 million in a Series G funding round.
The investment is the company’s largest funding round to date and boosts the company’s valuation by 25%, according to Blacklane.
The company, which was founded in 2011 and offers services in 50 countries, intends to use the capital to bolster its investment strategy and to foster global growth.
“This financing round is a strong signal and acknowledgement of what the Blacklane team has accomplished over the last years,” said Jens Wohltorf, CEO and co-founder of Blacklane.
Wohltorf thanked investors that participated including TASARU Mobility Investments, Al Fahim Group, Mercedes-Benz Mobility, RI Digital Ventures, Alstin Family and Gargash Enterprises.
The investment comes alongside a partnership with Saudi Arabia-based TASARU. “We are delighted to have TASARU as a long-term strategic investor as its mobility know-how will be a big asset to Blacklane. We could not wish for a better partner to achieve our goals.”
With the funding, Blacklane will expand operations in the United States, look at the Middle East and continue with its European ventures. Blacklane believes that expansion will allow the company to diversify with both local and global mobility solutions. It also plans to unveil new services.
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With an eye on the Middle East, Blacklane said it will launch in several cities in Saudi Arabia with electric vehicles. It expects this expansion to create jobs locally. The company said it plans to train both male and female chauffeurs in its Chauffeur Academies.
Blacklane also said it is chasing certain goals and aiming to invest in airport transfers, city-to-city connections and mobility solutions in cities including Dubai, Miami and London.
The partnership with TASARU will include working with airlines and airport transfer firms to provide chauffeur services in Saudi Arabia.
Michael Mueller, CEO of TASARU Mobility Investments, said the two companies share a vision for sustainable growth and innovation in the mobility vertical.
“This investment is a testament to our commitment to fostering a thriving automotive and mobility ecosystem in Saudi Arabia,” he said.
Blacklane has announced a number of partnerships in recent months as well as attracted investment. Earlier this year the company partnered with Jyrney, a PhocusWire Hot 25 Travel Startup for 2023, to offer its services to business travelers. And last year it closed its Series F funding with rental company SIXT on board – the investment amount was not disclosed.
