Home Business NewsBusinessAutomotive News Premium chauffeur service Blacklane receives multi-million euro investment

Premium chauffeur service Blacklane receives multi-million euro investment

by LLB Finance Reporter
27th Sep 23 9:47 am

Today, global chauffeur service Blacklane announced a partnership under which leading international provider of high-quality mobility services SIXT will become one of Blacklane’s important shareholders.

In future, Blacklane and SIXT will jointly work on expanding their footprint in international markets, initially with a special focus on North America, for both companies the most important growth market.

Blacklane’s chauffeur services will be available via the SIXT app in the US and other international markets in 2024, offering Blacklane as an additional premium mobility option on the platform. The partnership will also benefit both companies through for example leveraging SIXT’s fleet capabilities and connected services. This will offer guests and chauffeur partners an even broader choice of vehicles and services.

“We at SIXT are committed to providing premium mobility solutions in car rental, carsharing, subscription, and ride-hailing services. We welcome Blacklane on board as an additional valued partner in our mobility ecosystem and are looking forward to jointly creating synergies for our business with this partnership”, said Nico Gabriel, Chief Operating Officer (COO) at SIXT.

“We are thrilled to win SIXT as our partner and investor in this funding round”, said Dr. Jens Wohltorf, CEO and Co-Founder of Blacklane. “Their extensive experience in the ground transportation and travel industry, combined with our expertise in premium chauffeur services, create a powerful bond that will drive both company’s global growth and innovation and solidify Blacklane’s position as industry leader.”

The investment marks the second closing of Blacklane’s series F funding, providing Blacklane with a significant million euro investment at a valuation roughly 50% higher than the previous one from 2020. The first round of this F series was backed by prominent investors Mercedes-Benz Mobility and Gargash Group, driving Blacklane’s growth in the Middle East.

With the completion of this Series F round, Blacklane is poised to strengthen its position as global leader in premium ground transportation. Coming out of a highly successful period where Blacklane quadrupled revenues in 2022 year-over-year, the company now plans to accelerate its growth by investing in new services such as its City to City-program, connecting metropolitan areas via 127 routes in 11 countries.

The funding round will also contribute to the expansion of Blacklane’s German and global employee base of 300, driving the company’s growth and further strengthening its presence in its domestic market as well as abroad.

Additionally, the funding will support Blacklane’s sustainability efforts by implementing innovative mobility solutions. The company is committed to deliver 15% of its rides with electric vehicles by year-end 2023, and 50% by 2025. Blacklane is also offsetting all rides back to its founding in 2011.

SIXT joins notable investors such as Mercedes Benz Mobility, Al Fahim Group, Gargash Group, b2venture and Alstin Capital, all of which demonstrate confidence in Blacklane’s business model and growth expectations.

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