Sources: P2P car sharing startup Getaround is raising $201.5M Series D extension at ~$1.7B valuation, up from an estimated valuation of $840M last year
Ian Agar / PitchBook :
Context & Ripple Effects
Getaround's raise extends the $300M Series D SoftBank led in 2018 at just over $800M post-money — the new extension roughly doubles that valuation to ~$1.7B within a year. It also lands two months after rival marketplace Turo's $250M Series E from IAC at a $1B+ valuation, putting both US peer-to-peer car sharing leaders above the billion-dollar mark in the same quarter.
The Toyota relationship matters too: the Series C Toyota co-led in 2017 was aimed at global partnerships, and SoftBank's continued check-writing — first reported in Axios's May 2018 scoop — has made it Getaround's dominant backer through this extension.
First-order effects
- Getaround gains ~$201.5M in fresh runway at double its prior valuation, letting it match Turo's capital position without the dilution of a new priced round.
- SoftBank's existing stake roughly doubles in paper value, deepening its concentration in the peer-to-peer car sharing category it now funds on both sides.
Second-order effects
- Turo now competes against a rival with comparable war chest and a higher headline valuation, pressuring both marketplaces to spend on supply acquisition and pricing rather than conserve cash.
- Automaker partners like Toyota face a sharpened choice between backing one marketplace exclusively and hedging across both, since Getaround's valuation now exceeds Turo's.
Third-order effects
- If the pattern holds, US peer-to-peer car sharing consolidates into two SoftBank- and IAC-funded marketplaces whose valuations are set by fundraising cadence, raising the capital bar for any new entrant.
- The rapid valuation doubling — $840M to ~$1.7B in a year on an extension rather than fresh diligence — points toward late-stage private marks decoupling from operating fundamentals, a structural risk if the sector's economics don't catch up.
The trend: Peer-to-peer car sharing is consolidating into a two-player, capital-intensive market where SoftBank- and IAC-backed funding rounds, not unit economics, are setting valuations.