Peer-to-peer car sharing company, Turo, has announced that they’ve just earned $30 million thanks to a number of high profile investors, one of which happens to be none other than rapper 2 Chainz.
Founded in 2010, Turo is an app that allows private car owners to list and “rent” out their vehicles, a concept similar to what Airbnb does with homeowners. Users of the app can book or rent a vehicle without the use of traditional rental car facilities. Turo has over 14 million members, however, the company itself does not own any cars.
2 Chainz is just one of the many entertainers and athletes that make up Manhattan Venture Partners’ Rashaun Williams-led All Star Fund which contributed to the $30 million investment. Other investors and shareholders include NFL stars Larry Fitzgerald, Dee Ford, Tyrod Taylor, Malcolm Jenkins, and Clint McDonald; NBA stars Victor Oladipo, Langston Galloway, and Thad Young.
“This funding and these investors will help us continue to gain momentum and market share as we pioneer the car-sharing industry,” says Turo CEO Andre Haddad. “Currently growing 60% year over year with a vibrant, bustling community of over 14 million worldwide with 450,000 listed vehicles, we’re invigorated by this latest burst of financial and inspirational adrenaline, and forge into this new decade more laser-focused than ever on our mission of putting the world’s 1.5 billion cars to better use.”
