Blacklane Announces Significant Investment from Gargash Group and Mercedes-Benz Mobility

Blacklane, the leading global chauffeur services provider, has partnered with Gargash Group as its most recent investor, alongside long-time backer Mercedes-Benz Mobility also joined the round. This series F financing round brings a significant Million Dollar investment in the double digits at a valuation roughly 50% higher than the previous one from 2020.

Blacklane, which brings a unique premium chauffeur service experience to its clients, has seen unprecedented growth in popularity over the last months. With the new investment, the company will focus on its fleet’s transition to electric vehicles (EVs), including a retained super-charging network to accelerate its race to net zero and satisfy growing customer expectations. 

Since Blacklane aims to constantly deliver premium standards across its global chauffeur services network while improving the crew’s well-being, Blacklane has founded its first Chauffeur Academy in Dubai to ensure the highest service quality right from the start.

The critical Middle East market serves Blacklane as a test bed to optimise its structure and scale the new approach globally. Gargash Enterprises and Mercedes-Benz Mobility‘s support is accelerating Blacklane’s ability to transition to EVs, perfecting its service blueprint, and introducing it to other cities worldwide.

While Gargash Enterprises contributes its local expertise and sustainability know-how, Mercedes-Benz Mobility provides Blacklane with world-class electric vehicles optimised for perfect chauffeur service experiences. Mercedes-Benz Mobility, an investor since 2013, holds a brand share of more than 50% of Blacklane’s global fleet.

Jens Wohltorf, CEO and founder of Blacklane, said: “Gargash Group is the perfect partner to super-charge our growth in the Middle East and globally. Dubai is an important gateway for international clients, a key leisure and commercial city, hungry for innovation, and committed to sustainability. Hence, Gargash Group’s expertise and partnership lay the foundation to ramp up our premium electric fleet globally, set up our local chauffeur academies, and support our innovative platform’s technical and operational expansion. The ultimate goal is to continue driving our rapid growth. This new investment round is proof of the Blacklane crew’s achievements. In the past three years, we successfully introduced innovative products, thereby winning an impressive amount of new business accounts, quadrupling revenues in 2022 year-on-year, and achieving EBIT profitability. I am very proud of the team!”

Mr Shehab Gargash, Managing Director and Group CEO of Gargash Group, said: “Gargash Group has been witnessing the progress of Blacklane and believes that their strategic direction is much in line with the vision the Group has for its future. Our decision to invest at this juncture aligns with how we see our industry evolving.”

Franz Reiner, CEO of Mercedes-Benz Mobility AG, said: “We at Mercedes-Benz Mobility strive to exceed our customers’ expectations delivering an extraordinary customer experience moving ahead into a new era of individual mobility. Blacklane has been a perfect partner for almost ten years while providing its customers with excellent experiences and peace of mind. We are looking forward to continuing our successful partnership and collaboration.”

UP IN NEWS

• A Holy Grail Corvette Joins a Stunning Private Collection as RM Sotheby’s Arizona 2023 Sale Heats Up
• Bentley Releases Its Own, Unique Version of the Nutcracker
• Jeep Avenger: The Third and Final Episode of “Concentrated Freedom” Is Out Now
• What To Know About the New 2023 Ford Bronco
• Defrost Your Windscreen Faster This Winter With Weird Kitchen Items

---

For all the latest automotive news, reports, and reviews, follow us on Twitter, like us on Facebook, subscribe to our YouTube page, and follow us on Instagram, which is updated daily.

---