[Loopit #030] Kyte secures $250M as global car subscription industry approaches $1B in funding for Q1 2024

New Mobility Market Update

• Kyte has closed a $250M asset debt facility with Barclays and Waterfall. Since its Series A in March 2022, the company grown 6x, expanded to 12 markets across the U.S, and raised over $100M of equity capital. (Kyte)
• Australian-based Carly Car Subscription launches EV trial program for individual and fleet buyers to experience electric mobility through subscription. (TechAU)
• AUDI AG has caused a stir with a range of new in-car subscriptions for European buyers of the refreshed A3. (CarBuzz)
• :Dribe Denmark , one of Denmark’s leading car subscription services, has entered a franchise agreement with Greek car distributor Kosmocar S.A. (AutoRentalNews)
• Drive.com.au reports that more than 60 per cent of Polestar 2s sold last year were registered as 'business' sales due to the popularity of car subscription services such as Splend (Drive.com.au)

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As a leader in technology-driven transformation, Loopit is dedicated to enhancing customer experiences and operational efficiency in the automotive sector. Discover how Loopit can innovate your business - visit www.loopit.co to learn more and join the car subscription revolution.