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Fair Acquires Uber’s Xchange Leasing Portfolio

As Uber works on trying to find a more profitable path ahead for its transportation-on-demand service, it has sold off one of its units that sat peripherally to that business. Fair, the car leasing startup that announced debt and equity funding of up to $1 billion in October, has acquired the active leasing portfolio of Xchange Leasing, a service Uber first established in 2015 to lease new and nearly-new vehicles to drivers who did not come to the service with their own cars.

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