Chauffeur Firm Blacklane Draws Saudi Arabia’s PIF in New Round

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 ...