Silvercar Plans to Add New Markets Following $28 Million Investment

Jan. 04, 2016

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2 min read

Silvercar Plans to Add New Markets Following $28 Million Investment

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Silvercar has been expanding at a steady (but modest) clip, with New York City and now Las Vegas as recent outpost additions. But with giant competitors (some of which offer generous perks to elites), the rental agency has a lot of catching up to do. Of course, adding more vehicles and rental locations can be tremendously expensive, which explains why Silvercar has struggled to grow as quickly as competitors.

Well, as of today, that's about to change. This morning, Silvercar shared the news that it has secured $28 million in funding, led by its vehicle partner Audi. The duo will also launch something called Audi Shared Fleet, which will enable corporations to provide on-campus transportation options to employees. An Audi executive will also join Silvercar's board of directions, which should help fuel even more growth.

Silvercar is also available in Austin (AUS), Chicago (ORD), Dallas (DAL and DFW), Denver (DEN), Fort Lauderdale (FLL), Los Angeles (LAX), Miami (MIA), New York City, Phoenix (PHX) and San Francisco (SFO), and will soon launch in Las Vegas (LAS). Be sure to reserve your car with a credit card that offers primary rental car coverage, such as Chase Sapphire Preferred. You can earn a $25 credit on your first rental by entering referral code: BKELLY1.