Getaround (NYSE:GETR), the world’s first connected carsharing marketplace, today announced a new debt facility with Mudrick Capital Management for up to $20 million in additional capital to provide funding for its 2024 operating plan, with Getaround having drawn the first $5 million.
The financing follows strong Q3 2023 financial results that Getaround announced in their December earnings call: strong revenue growth (+42% year-over-year) and improvement in trip contribution margin (increased to 52%; up 640 basis points year-over-year). Additionally, Getaround just launched (January 17th) a new unified global app and website that enhances the booking experience for drivers and owners between the U.S. and Europe.
