Chauffeur Firm Blacklane Draws Saudi Arabia’s PIF in New Funding Round – BNN Bloomberg

(Bloomberg) — Blacklane GmbH, a luxury chauffeuring startup backed by Mercedes-Benz Mobility AG, raised €60 million ($65 million) in its latest funding round from investors including Tasaru Mobility Investments, a subsidiary of Saudi Arabia’s Public Investment Fund.

The latest Series G is the Berlin-based firm’s largest ever financing round, according to a statement reviewed by Bloomberg News. The company plans to use the proceeds to expand its operations in the US, its largest market, as well as in the Middle East and Europe. In Saudi Arabia, it’s looking to launch fleets of electric vehicles in several key cities and train female and male chauffeurs.

The funding round values Blacklane at more than €500 million, according to people familiar with the transaction, who asked not to be identified as the information is private.

Blacklane offers services including airport transfers, city-to-city commutes and chauffeur-by-the-hour in over 50 countries globally. Besides…