Friday, February 2, 2018

HyreCar Raises $1.46M In Debt Funding

Los Angeles-based online car rental service HyreCar has just raised $1.465M in debt funding, as part of an ongoing $2.3M funding round, according to a regulatory filing from the firm on Thursday. Details on the funding--which appears to be a convertible note or bridge round, with warrants--have not yet been announced. According to those filings, the funding comes on top of $1.65M in equity raised in a round which opened in June of 2017. That earlier equity funding had a target of $2.975M, and had included 62 investors as of November. HyreCar's CEO is Joe Furnani, and its CTO is Abhi Arora. HyreCar's service lets drivers rent cars which they can use to drive for Uber and Lyft, with no contracts and no sign up fees. More information »