Audi to invest $28 million into Silvercar rental company image

The only-Audi rental company Silvester has received an important financial aid from the Ingolstadt-based automaker.

Nobody seems to invest in car rental companies anymore, as the focus is now on ride-sharing and services such as Uber or Lyft grow exponentially. But Silvercar is not just another rental company, as it focuses on business clientele who do not want to be driven around by whomever on their way back to the airport. The company only started in 2012, being run by Luke Schneider, a former chief technology officer at ZipCar, and operates locations at airports across the US, such in Los Angeles, San Francisco, Miami, Chicago or New York. And since people in suits are quite picky, Silvercar offers exclusively fully equipped silver models from Audi, which can be booked via a smartphone app.

And as the German premium automaker still believes in this type of business, it has announced a 28-million-dollar Series C investment to help the company expand into new markets. The news hits the market as Silvercar unveils its enhanced digital and mobile platforms designed for an optimized user experience and expands into Las Vegas, its 12th market, all of them in the States. Silvercar also received funding from Series B investors, including Austin Ventures and Eduardo Saverin, co-founder of Facebook. Additionally, as part of the next phase of the partnership with Audi, the companies will work in tandem to develop Audi Shared Fleet, a turnkey solution for businesses looking to provide accessible transportation to their employees on corporate campuses.

“Audi’s confidence in Silvercar allows us to extend our reach even further, and bring forth the concept of shared mobility into many more markets, applications and product offerings,” said Silvercar CEO, Luke Schneider. “It is our goal to accelerate the expansion of our successful airport business in order to integrate these new mobility products into the market as soon as possible.”