(Reuters) – a Car lease, a boot Fair, said on Tuesday it had raised $500 million in loans from a group of creditors, including Mizuho Bank and the japanese SoftBank Group, Corp., as it looks to expand, leasing services of Uber drivers.
Founded in 2016, the Santa Monica, California, and on the basis of a Fair, raised $385 million of it in a SoftBank-led funding round in December 2018.
SoftBank has stakes in Uber Technologies, Inc., General Motors Co. and the Cruise self-driving cars, China has A Chuxing, and South-east Asia’s greatest ride from firm to Grasp, and in India the Country.
These positions reflect, they turned to the growing influence of the emerging field of AI and autonomous driving, are driven by its capital expenditure by almost $100 billion in SoftBank’s Vision Fund.
The Fair has partnered with Uber to rent a car for users who want to drive for the ride-sharing company.
“Too often, people who want to drive for Uber and not for the reasonable rates on a car loan, or even access to one at all, so we have to take care of them,” the Fair’s founder and chief executive officer Scott Painter said.
The fair allows drivers to lease cars from auto dealers without having to sign up for long-term or fixed-term contracts.
Reporting Dominic, Roshan K. L., Bengaluru