Funding and Acquisitions Roundup: RelayRides gets Wheelz in a merging of car sharing market rivals
Today’s early-stage startup funding and acquisitions news:
Peer-to-peer car rentals platform RelayRides has acquired competitor Wheelz, in a major consolidation in the car sharing market. Terms of the deal have not been disclosed, although they companies have said that Wheelz investors would become shareholders in the new combination, according to TechCrunch. San Francisco-based RelayRides was founded in 2008, while Wheelz was a newer entrant that launched in 2011. Wheelz had raised $15.7 million in venture funding through Seed and Series A rounds.
Transferwise, a digital currency exchange that utilizes a peer-to-peer model to cut the cost of sending money between countries, has landed $6 million in Series A funding led by Peter Thiel’s Valar Ventures. London–based Transferwise was founded in 2010 and previously raised $1.3 million in Seed funding in the spring of 2012. Here’s more on the funding, from the company’s blog.
Digital debit cards startup Akimbo Financial has closed an $850,000 Angel funding round. Investors include Rackspace chairman and co-founder Graham Weston and former CEO and Chairman Emeritus of Cullen/Frost Bankers and Akimbo co-founder Tom O. Turner, according to TechCrunch. The Austin-based startup previously raised $500,000 in Seed funding around its founding in 2010.
More funding and acquisitions news…
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Compiled by StartUp Beat editor Brian Kovalesky.