Blacklane announces deal with the Gargash Group and Mercedes-Benz Mobility
With the investment, the Berlin-based chauffeur service aims to achieve long-term and sustainable growth in the Middle East market.
Berlin-based chauffeur start-up Blacklane has announced a financing round with the Gargash Group, one of the leading conglomerates in the United Arab Emirates, and existing investor Mercedes-Benz-Mobilty. The exact amount is not known, but the Series F financing is said to be a "significant double-digit million amount". This has increased Blacklane's valuation by around 50 percent.
Blacklane intends to use the fresh capital to electrify its fleet. A Supercharger network is also to be set up for this purpose. Blacklane has also opened its first chauffeur academy in Dubai. The company wants to tap into the Middle East market more intensively. The expansion will also be a test for the company structure. Gargash is to contribute local expertise, Mercedes-Benz Mobility the vehicles. Mercedes Benz has been investing in Blacklane since 2013 and provides 50 percent of the fleet.
Blacklane was founded in 2011 and now offers its service in more than 50 countries. The company offers on-demand rides with chauffeurs. "Dubai is an important gateway for international customers, an important leisure and commercial city," says CEO and co-founder Jens Wohltorf about his company's new market.
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