Chauffeur specialist Blacklane has secured investment of £51 million to spearhead growth in the US, its largest market, sharpen its focus on the Middle East and continue its business in Europe.
Plans include expansion in Saudi Arabia, where it will launch in several key cities with a fleet of electric vehicles.
It will also open a “one-of-its-kind” Chauffeur Academy in Saudi to train both female and male chauffeurs. In Blacklane’s existing Dubai operation, more than half of its chauffeurs are women.
The Series G round comes from new key investor TASARU Mobility Investments, owned by Saudi Arabia’s Public Investment Fund, along with Blacklane’s existing investors.
Blacklane said the partnership with TASARU will also involve “collaboration with local market players, such as airlines and airport transfer companies, to provide seamless luxury chauffeur services tailored to the needs of Saudi Arabia’s growing market.”
“We are delighted to have TASARU as a long-term strategic investor as its mobility know-how will be a big asset to Blacklane. We could not wish for a better partner to achieve our goals,” said Dr. Jens Wohltorf, CEO and co-founder of Blacklane.
“Moreover, we are delighted to have a strong set of existing investors, such as Mercedes-Benz Mobility, Gargash Enterprises, Al Fahim Group, Alstin Family and RI Digital Ventures, supporting our sustainable and long-term investment strategies.
“This financing round is a strong signal and acknowledgement of what the Blacklane team has accomplished over the last years.”
The announcement said the funding will also support Blacklane’s sustainability efforts by “implementing innovative mobility solutions”.
