French car-sharing company TravelCar raises €15m for US expansion
French car-sharing company TravelCar has gained €15m in funding from carmaker the PSA Group and US auto insurer MAIF to enter the US market by extending its service to Los Angeles and San Francisco airports. TravelCar offers three types of service: car owners who rent their car out get free parking and payment, car owners who don’t rent their vehicle get an cheaper parking fee, and those looking to rent a vehicle can get discounted prices for private vehicles. The company was founded in 2012 and has more than 200 agencies that service more than 300,000 users across 10 countries in Europe.
French car sharing service TravelCar has raised €15 million from the PSA Group and MAIF, to enter the United States market with car rental offers for travelers in the Los Angeles and San Francisco airports.

TravelCar offers three kinds of services to car owners and car renters. Car owners who make their vehicle available for rent benefit from free parking, and if the vehicle is rented out, the car owner is also paid. An affordable parking fee is also available for car owners who prefer not to share their vehicle. Lastly, car users looking for a vehicle can have access to a private car at a reduced price, which is approximately 50 percent cheaper than with a traditional car rental offer.

TravelCar was founded in 2012, and alredy has a network of over 200 agencies and 300,000 users in ten European countries. Its service is unique on the American market, which 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.

“With PSA Group and MAIF support, TravelCar entering the American market is taking a new step forward in its international growth”, said Ahmed Mhiri, founder & CEO of TravelCar in a statement. “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.”

Read more: Business Wire