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Alternative Assets  + Financial Advisory  + Private Equity  + Wealth Management  | 
On Demand Car Rental Kyte Raises $60M in Series B Funding

On Demand Car Rental Kyte Raises $60M in Series B Funding

On-demand car rental company Kyte has closed a $60 million Series B round following $200 million in funding in March. 

The round brings total funding to approximately $300 million across equity and debt, led by InterAlpen Partners, whose founder, Stephen George – an early investor in Tesla and SpaceX – is joining Kyte’s Board.  

Valor Equity Partners, Anthemis, Citi Ventures, and Hearst Ventures, and existing investors DN Capital and 1984 Ventures, FJ Labs, and Urban Innovation Fund, participated in the latest round. 

Kyte delivers cars on demand for all trips longer than a rideshare. Through the mobile app on iOS, Android, or website, customers can book a car for a day, multiple days, multiple weeks, or months. 

Kyte plans to accelerate product development, triple its fleet and expand in new and existing markets. Kyte says it has experienced 5x growth since its $30 million Series A funding in 2021. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.