Santa Monica based car leasing startup Fair has raised a $50m funding round led by next47, and has now raised over $100m since being founded in 2016.
Last year, the company confirmed that it had arranged for equity and debt financing of up to $1 billion, money that it would use to build out its business organically and by way of acquisition. Since then, it also secured a loan facility from Goldman Sachs to finance the Xchange Leasing deal (with the amount also undisclosed). In addition to next47, this latest round includes repeat investors BMW, Upfront Ventures and G Squared (formerly known as GSV Ventures, backer of both Uber and Lyft, among many others), along with a few other names: CreditEase, Millennium TVP and 137 Ventures. Fair already shared some investors with Skurt, which had raised around $11.3 million with backers including BMW and Upfront (others included basketball legend Magic Johnson and Winklevoss Capital.)