Fair Raises $385 Million Series B Led By SoftBank To Scale Its Payments-Based Car Platform Globally

After scaling nationwide in 2018, car-as-a-service provider Fair today announced it has raised $385 million in a Series B financing led by SoftBank. The investment is anticipated to enable the company to scale its consumer platform and Uber partnership globally. The round includes additional investments from Exponential Ventures, Munich Re Venture’s ERGO Fund, G Squared, and CreditEase. The transaction is subject to receipt of regulatory approvals and satisfaction of other customary closing conditions. “We’re in the midst of a transformational shift as consumers choose access to services over ownership,” said Scott Painter, Fair CEO and Founder. “This financing signals that Fair will be a critical and enduring component of this transition in mobility as we replace the decades-old, debt-based system of car-buying with a payments platform that’s simple, affordable and flexible.”

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