IFM Investors has acquired a 49% stake in Splend, a $200m startup providing vehicle financing solutions for rideshare drivers.
The investment aims to fuel Splend’s growth, enabling the company to expand its platform and fleet while strengthening its presence in key markets.
Founded in Australia, Splend offers flexible financing options tailored to the needs of rideshare drivers. The company operates across Australia, the UK, and the US, with a focus on sustainability through electric and hybrid vehicle offerings. This approach supports the transition to greener transportation while helping drivers reduce operational costs.
The partnership with IFM Investors underscores the firm’s dedication to sustainable investments and innovative business models. The capital injection will allow Splend to scale its operations and capture new opportunities in the rapidly expanding rideshare sector.
This transaction highlights the growing interest in rideshare-focused solutions and the role of private equity in supporting businesses at the forefront of sustainability and innovation.
Source: IFM Investors
Can’t stop reading? Read more
Ares raises $7.1bn for credit secondaries in largest inaugural fundraise
Ares raises $7.1bn for credit secondaries in largest inaugural fundraise Ares Management has...
CVC-backed Global Sport Group launches €2.7bn debt raise to fund sports dealmaking
CVC-backed Global Sport Group launches €2.7bn debt raise to fund sports dealmaking Global Sport...
Warburg Pincus weighs €1.5bn defence fund as European rearmament accelerates
Warburg Pincus weighs €1.5bn defence fund as European rearmament accelerates Warburg Pincus is...