Blacklane raises 22 million euros

The Berlin-based limousine platform has already raised 100 million euros. Blacklane intends to use the money to expand its services and compete with Uber and Lyft.

Ten years ago, Frank Steuer and Jens Wohltorf founded the limousine platform Blacklane, and it has now been announced that the Berlin-based start-up has raised 22 million euros in a recent financing round, according to Bloomberg reports. This means that Blacklane has now raised 100 million euros, as Wohltof told Bloomberg.

The money comes from existing investors such as Daimler AG. In 2018, Btov Partners and the Al Fahim Group were also involved in a financing round. The money will be used to establish new services. The coronavirus pandemic hit Blacklane hard, with revenue of EUR 10 million per month falling by 99 percent. Blacklane primarily offers rides in the luxury segment for customers who have to commute between cities or are driven to the airport.

Blacklane now wants to compete with Uber or Lyft by also offering short-term rides within cities. The service is currently offered in Berlin, Dubai, New York, London and Paris, with more cities to follow(Startbase reported). Following the successful realignment of the company, Wohltorf announced that Blacklane may be aiming for an IPO as early as 2023.