Kyte Secures $200 Million Asset-Backed Financing Facility From Goldman Sachs And Ares Management To Grow Fleet Amid Unprecedented Transformation Of The Transportation Industry

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Kyte aims to give people better access to fewer cars and replace car ownership by offering access to cars on demand. The company's intentional approach increases vehicle utilization and takes cars off the road for a more sustainable future while saving customers time and money. Through the Kyte mobile app on iOS, Android, or website, customers can book a car for a day, multiple days, multiple weeks, months, or however long they want. To begin, customers choose a time and location for their vehicle delivery. Then, the company dispatches a delivery driver — known as a "Kyte Surfer" — to deliver a clean, sanitized car at the time requested. When the vehicle is ready to be returned, a Kyte Surfer retrieves the car from the customer at the location and time they can flexibly choose. Currently operational in over a dozen cities, Kyte was founded in 2019 by Nikolaus Volk, Ludwig Schoenack, and Francesco Wiedemann, and is headquartered in San Francisco, CA, with offices in Munich, Germany, and satellites across the globe. For more information about Kyte, visit their website, and for career opportunities, please visit their career page.