Israel-based vehicle sharing company GoTo Global has raised a $19m series B round featuring car towing service company Shagrir Group Vehicle Services, TechCrunch reported today.
166 2nd Financial Services, the family office of corporate-backed workspace provider WeWork’s founder Adam Neumann, led the round with a $10m commitment, acquiring a 33% stake.
Shagrir is GoTo Global’s parent firm and will own a 54% stake in the company. The corporate’s participation involved the conversion of $9m of debt into equity.
Founded in 2008 as Car2Go, GoTo Global runs a multimodal mobility sharing app that provides bicycles, cars, kick-scooters and mopeds.
GoTo Global has a presence in Israel and Malta and plans to use the latest capital to expand into additional European markets, starting in Madrid, Spain.
An unnammed representative will join GoTo Global’s board of directors on behalf of 166 2nd Financial Services.
GoTo Global previously secured $3m in seed capital, TechCrunch said without offering further details.
