Blacklane secures 60 million euros

Investment by TASARU and existing investors. Series G funding round strengthens global growth and drives expansion in the US, Middle East and Europe

Berlin/Riyadh - October 29, 2024 - Blacklane, a provider of premium chauffeur services, announces the closing of its largest financing round of €60 million. The lead investor is TASARU Mobility Investments, supported by existing investors including Mercedes-Benz Mobility, Gargash Enterprises, Al Fahim Group and RI Digital Ventures. With this financial tailwind, Blacklane aims to accelerate its global growth and expand its market presence.

Expansion and strengthening of market presence in the USA, Europe and the Middle East

Blacklane plans to use the new funds to expand its service offering in its core markets. In the USA, Europe and Saudi Arabia in particular, the company will expand its fleet and enter into local partnerships for customized chauffeur services. By increasing its presence in the Middle East, Blacklane will deploy a fleet of electric vehicles in Saudi Arabia for the first time and create new local jobs. Chauffeurs in key cities in the country will also have the opportunity to attend training courses at the Blacklane Chauffeur Academies.

Long-term partnership with TASARU to support Saudi Arabia's Vision 2030

The partnership with TASARU, which is characterized by a shared vision for sustainable mobility solutions, gives Blacklane access to a dynamic market and supports Saudi Arabia's growth objectives under Vision 2030. Michael Müller, CEO of TASARU, emphasizes the commitment to sustainable mobility infrastructure and the creation of a thriving mobility ecosystem in the country.

Strategic investment in profitable growth and local mobility solutions

Blacklane also plans to use the financing round to expand its mobility services such as airport transfers and inner-city rides. Blacklane has been profitable since spring 2022, with revenue growth of 25% compared to the previous year. The company now offers its services in over 50 countries and aims to score with a premium offering in the luxury mobility sector.

As part of the investment, Blacklane will increasingly invest in sustainable mobility solutions to reduce the carbon footprint of its fleet. Since its foundation in 2011, Blacklane has offset all journeys in a carbon-neutral manner and continuously reviews the environmental impact of its activities.