What is Kyte?
Founded in 2019 and headquartered in San Francisco, Kyte offers a unique solution for car rentals by providing an app-based platform for on-demand vehicle access. The company aims to streamline the rental process, making it more convenient and accessible for consumers. Kyte operates within the competitive mobility and car-sharing market, differentiating itself through its focus on user experience and flexible rental options. The company's growth trajectory suggests a strategic move towards scaling its operations and enhancing its technological infrastructure to meet increasing market demand.
How much funding has Kyte raised?
Kyte has raised a total of $549M across 5 funding rounds:
Angel/Seed
$9M
Series A
$30M
Debt
$200M
Series B
$60M
Debt
$250M
Angel/Seed (2021): $9M with participation from DN Capital and Amplo VC
Series A (2021): $30M led by Park West Asset Management, Rosecliff Capital Advisors, Seraph Group, FundersClub, Unpopular Ventures, Amplo, Moving Capital, DN Capital, 1984 Ventures, Sterling Road, and Urban Innovation Fund
Debt (2022): $200M supported by Goldman Sachs and Ares Management Corporation
Series B (2022): $60M featuring Valor Equity Partners, Hearst Ventures, Anthemis, and Citi
Debt (2024): $250M backed by Barclays and Waterfall Asset Management
Key Investors in Kyte
Barclays
Barclays PLC is a British multinational universal bank headquartered in London, providing a wide range of financial services to consumers, businesses, and institutions globally. The company operates through multiple divisions including retail banking, corporate and investment banking, wealth management, and credit cards.
Waterfall Asset Management
Founded in 2005, Waterfall Asset Management is an SEC-registered institutional asset manager focused on structured credit (asset-backed securities and loans) and private equity investments. They are based in New York City, New York.
DN Capital
DN Capital is a global early-stage venture capital firm founded in 2000, with offices in London, Berlin, and San Francisco. The firm focuses on investing in Seed, Series A, and select Series B opportunities across four key sectors: Software, AI, Fintech, and Consumer Internet.
What's next for Kyte?
With the recent influx of major enterprise-level funding and a strategic investment, Kyte is poised for significant expansion and operational enhancement. The company is likely to focus on broadening its geographic reach, refining its technology platform, and potentially exploring new service offerings to solidify its market position. This capital infusion will be critical in navigating the competitive landscape and achieving its long-term growth objectives, further establishing Kyte as a key player in the evolving car rental industry.
See full Kyte company page
