Volkswagen Group made it rain on Gett with a $300 million investment, as part of a “strategic partnership” that aims to fuel Gett’s growth.
“Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025,” said Volkswagen CEO Matthias Müller, in the press release announcing the deal. “Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs.”
The on-demand ride-hailing company has raised at least $520 million to date and operates in more than 60 cities worldwide.
“With VW’s investment, Gett will now accelerate its expansion to the rest of Europe, and strengthen its position in NYC, where we already operate,” said Gett’s founder and CEO Shahar Waiser, in the same press release.
May the investment be used to work on a log-out button.