Fenwick & West represented Turo, Inc., a peer-to-peer car sharing marketplace, in its $250 million Series E financing. IAC agreed to invest $250 million in Turo, bringing the company's total funding to $470 million and making IAC the largest shareholder in Turo with rights to expand its ownership over time.
Turo plans to invest the capital from IAC to help accelerate growth and refine the customer experience. More information about Turo’s $250 million Series E financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate partners Sam Angus and Ran Ben-Tzur, and associates Nam Kim and Shweta Kumar.