Luxe Is Raising Tens Of Millions In A Big New Funding Round From Hertz


Luxe is in talks with a strategic investor that will infuse the company with “tens of millions” in new financing from Hertz, our sources tell us. Our understanding is that the round is still in negotiations — and, of course, could change at any time — but one source says the round could be as high as $50 million.

The Information also reported that the funding round is coming from Hertz, and said the round is coming in at a more than $100 million pre-money valuation. This round, according to our sources, has been in the works for a while — as far back as last quarter when it seemed that it would not be able to close a new round of financing.

It would make sense that the deal would come from Hertz, which could lean on Luxe’s model in multiple markets in order to offer…

Read Story