Blacklane secures €60m investment from Saudi mobility specialist

Chauffeur service provider Blacklane has secured €60 million in new funding to allow it to “accelerate the next phase” of its global growth plans.

Berlin-based Blacklane’s latest cash injection comes from TASARU Mobility Investments, which is owned by Saudi Arabia’s Public Investment Fund. The “Series G” funding will be used to expand in key markets such as the US, Europe and the Middle East.

Jens Wohltorf, CEO and co-founder of Blacklane, said that TASARU’s “mobility know-how will be a big asset” to the ground transport specialist.

“This financing round is a strong signal and acknowledgement of what the Blacklane team has accomplished over the last years,” added Wohltorf.

Blacklane’s investors already include Mercedes-Benz Mobility, car rental firm Sixt, Gargash Enterprises and Al Fahim Group.

Michael Mueller, CEO of TASARU Mobility Investments, added: “We are excited to partner with Blacklane, a company that shares our vision for innovation and sustainable growth in the mobility sector.

“This investment is a testament to our commitment to fostering a thriving automotive and mobility ecosystem in Saudi Arabia.”

The new funding will be used to expand Blacklane’s operations in the US, as well as to “sharpen its focus on the Middle East and continue its business in Europe”. This will include opening in several cities in Saudi Arabia where the company will deploy a fleet of electric vehicles (EVs).

Further moves will include Blacklane investing in more airport transfers and city-to-city services, as well as growing its new “in-city” mobility options, which have already launched in London, Miami and Dubai.